13,200 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 13,200 shares of the real estate investment trust’s stock, valued at approximately $2,214,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Simon Property Group by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after purchasing an additional 3,626 shares in the last quarter. Red Cedar Investment Management LLC grew its stake in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after acquiring an additional 10,644 shares in the last quarter. TTP Investments Inc. increased its position in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 10,147 shares during the period. Forte Capital LLC ADV purchased a new position in Simon Property Group in the third quarter valued at $630,000. Finally, Radnor Capital Management LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $1,602,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Mizuho increased their price target 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. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial increased their price target on shares of 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 downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven equities 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.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Down 1.2 %

Shares of SPG opened at $181.39 on Tuesday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $127.60 and a 1-year high of $186.00. The stock has a market cap of $59.18 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 10.72 and a beta of 1.75. The firm has a 50 day simple moving average of $174.30 and a 200-day simple moving average of $161.46.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $3.20 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.63%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio is 109.19%.

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.