1,438 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,438 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted its position in Simon Property Group by 19.7% in the fourth quarter. Rafferty Asset Management LLC now owns 43,752 shares of the real estate investment trust’s stock valued at $6,241,000 after buying an additional 7,207 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Simon Property Group by 16.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,017 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 696 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Simon Property Group by 66.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 48,911 shares of the real estate investment trust’s stock worth $6,977,000 after acquiring an additional 19,450 shares during the last quarter. American International Group Inc. boosted its position in shares of Simon Property Group by 0.5% during the 4th quarter. American International Group Inc. now owns 87,594 shares of the real estate investment trust’s stock worth $12,494,000 after purchasing an additional 405 shares during the period. Finally, Morningstar Investment Services LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $358,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Stock Performance

Shares of SPG opened at $169.58 on Friday. Simon Property Group, Inc. has a 1 year low of $102.82 and a 1 year high of $170.87. The stock has a market capitalization of $55.29 billion, a PE ratio of 21.60, a PEG ratio of 9.19 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50-day simple moving average of $162.34 and a 200-day simple moving average of $153.37.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 4.84%. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 104.46%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus restated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Argus increased their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $162.78.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.