Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Sei Investments Co.

Sei Investments Co. raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,044,257 shares of the real estate investment trust’s stock after acquiring an additional 15,500 shares during the period. Sei Investments Co. owned approximately 0.32% of Simon Property Group worth $158,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Simon Property Group by 1.5% in the first 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 during the period. Boston Partners lifted its stake in Simon Property Group by 4.2% during the 1st 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 boosted its holdings in Simon Property Group by 4.5% during the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares during the period. PGGM Investments grew its position in Simon Property Group by 1.9% in 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 acquiring an additional 23,186 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Simon Property Group by 6.7% during the second quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock worth $162,689,000 after purchasing an additional 67,513 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SPG. Truist Financial raised 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. Scotiabank upped their price objective on 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. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Piper Sandler restated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Trading Down 0.3 %

SPG opened at $166.55 on Friday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18. The company has a market cap of $54.30 billion, a P/E ratio of 21.22, a PEG ratio of 9.04 and a beta of 1.74. The business’s 50-day simple moving average is $159.20 and its 200-day simple moving average is $152.13.

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.92%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

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.