Gateway Investment Advisers LLC Sells 113 Shares of Simon Property Group, Inc. (NYSE:SPG)

Gateway Investment Advisers LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,049 shares of the real estate investment trust’s stock after selling 113 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Simon Property Group were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Simon Property Group by 11.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after acquiring an additional 3,626 shares in the last quarter. Aspiriant LLC bought a new position in Simon Property Group in the 1st quarter valued at about $1,139,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Simon Property Group by 333.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock worth $3,839,000 after purchasing an additional 18,872 shares during the last quarter. M&G Plc purchased a new position in shares of Simon Property Group during the first quarter valued at approximately $4,654,000. Finally, Diversified Trust Co boosted its position in shares of Simon Property Group by 130.9% during the first quarter. Diversified Trust Co now owns 10,852 shares of the real estate investment trust’s stock valued at $1,698,000 after buying an additional 6,153 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Scotiabank raised their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reissued a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $170.78 on Monday. Simon Property Group, Inc. has a fifty-two week low of $104.05 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The business has a 50-day simple moving average of $163.88 and a two-hundred day simple moving average of $153.91. The firm has a market cap of $55.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 9.20 and a beta of 1.74.

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

Simon Property Group Increases Dividend

The business 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 boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.80%. Simon Property Group’s dividend payout ratio is presently 104.19%.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

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.