Venturi Wealth Management LLC Purchases 88 Shares of Simon Property Group, Inc. (NYSE:SPG)

Venturi Wealth Management LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622 shares of the real estate investment trust’s stock after acquiring an additional 88 shares during the quarter. Venturi Wealth Management LLC’s holdings in Simon Property Group were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Boston Partners increased its position in shares of Simon Property Group by 4.2% during the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after acquiring an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock worth $283,905,000 after acquiring an additional 78,866 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares in the last quarter. Finally, PGGM Investments boosted its stake in Simon Property Group by 1.9% during the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after purchasing an additional 23,186 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Mizuho upped their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Scotiabank upped their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 0.5 %

SPG opened at $178.31 on Friday. Simon Property Group, Inc. has a twelve month low of $119.71 and a twelve month high of $182.84. The company’s 50-day moving average price is $170.18 and its two-hundred day moving average price is $158.33. The stock has a market cap of $58.14 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 10.40 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.71%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Simon Property Group Profile

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.