Soltis Investment Advisors LLC Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Soltis Investment Advisors LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 22,931 shares of the real estate investment trust’s stock after acquiring an additional 259 shares during the period. Soltis Investment Advisors LLC’s holdings in Simon Property Group were worth $3,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Simon Property Group by 373.6% during 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 buying an additional 993,694 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after purchasing an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after buying an additional 633,072 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Simon Property Group by 295.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after acquiring an additional 489,519 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, with a total value 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. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPG shares. Truist Financial lifted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Stifel Nicolaus reaffirmed 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. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.44.

Simon Property Group Trading Down 1.6 %

Shares of SPG stock opened at $179.19 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1 year low of $132.24 and a 1 year high of $186.00. The firm’s fifty day simple moving average is $175.92 and its 200 day simple moving average is $162.93. The firm has a market capitalization of $58.47 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 10.75 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $3.20 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.76 EPS 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. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.69%. Simon Property Group’s payout ratio is currently 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.