Simon Property Group, Inc. (NYSE:SPG) Stock Position Raised by KBC Group NV

KBC Group NV increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 250.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,704 shares of the real estate investment trust’s stock after acquiring an additional 232,840 shares during the quarter. KBC Group NV owned approximately 0.10% of Simon Property Group worth $55,051,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the 2nd quarter valued at about $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC raised its holdings in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after buying 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 $178.31 on Friday. Simon Property Group, Inc. has a 52 week low of $119.71 and a 52 week high of $182.84. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20. 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 PE ratio of 23.74, a price-to-earnings-growth ratio of 10.45 and a beta of 1.74.

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

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SPG. Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. 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 report on Thursday, September 12th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank increased their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $162.78.

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.