Capital Investment Advisors LLC Acquires 483 Shares of Simon Property Group, Inc. (NYSE:SPG)

Capital Investment Advisors LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,995 shares of the real estate investment trust’s stock after buying an additional 483 shares during the period. Capital Investment Advisors LLC’s holdings in Simon Property Group were worth $506,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clearstead Trust LLC acquired a new position in Simon Property Group during the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter valued at approximately $27,000. Finally, RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Truist Financial upped their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Mizuho raised 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $162.78.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was 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 of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.21 on Tuesday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a one year low of $104.05 and a one year high of $177.08. The business’s 50 day simple moving average is $166.35 and its 200 day simple moving average is $154.84. The stock has a market capitalization of $56.80 billion, a PE ratio of 22.14, a PEG ratio of 9.70 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a $2.05 dividend. The ex-dividend date of this dividend was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is 104.19%.

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.