Mather Group LLC. Raises Stake in Simon Property Group, Inc. (NYSE:SPG)

Mather Group LLC. boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,460 shares of the real estate investment trust’s stock after acquiring an additional 428 shares during the period. Mather Group LLC.’s holdings in Simon Property Group were worth $585,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SPG. Clearstead Trust LLC bought a new position in shares of Simon Property Group in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the second quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group in the first quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the second quarter worth approximately $27,000. Finally, RFP Financial Group LLC lifted its stake in shares of Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 160 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPG shares. Scotiabank upped 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 research note on Monday, August 26th. Truist Financial upped their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler reissued 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. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Mizuho boosted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 1.2 %

Shares of SPG stock opened at $169.25 on Thursday. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $170.87. The stock has a market cap of $55.18 billion, a P/E ratio of 21.56, a P/E/G ratio of 9.29 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a 50 day simple moving average of $162.89 and a two-hundred day simple moving average of $153.54.

Simon Property Group (NYSE:SPG) last announced its earnings results 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). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 104.46%.

Simon Property Group Company 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.