Vert Asset Management LLC Purchases 688 Shares of Simon Property Group, Inc. (NYSE:SPG)

Vert Asset Management LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,615 shares of the real estate investment trust’s stock after buying an additional 688 shares during the quarter. Simon Property Group makes up about 7.1% of Vert Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Vert Asset Management LLC’s holdings in Simon Property Group were worth $20,555,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SPG. Clearstead Trust LLC bought a new position in Simon Property Group during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group during the 2nd quarter valued at $27,000. Finally, RFP Financial Group LLC lifted its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $176.90 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $57.68 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 9.41 and a beta of 1.74. The firm has a fifty day moving average price of $165.93 and a two-hundred day moving average price of $154.59. Simon Property Group, Inc. has a fifty-two week low of $104.05 and a fifty-two week high of $177.08.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Monday, September 9th. Simon Property Group’s payout ratio is 104.19%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $162.78.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction 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 approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

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.