Graypoint LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Graypoint LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,014 shares of the real estate investment trust’s stock after buying an additional 202 shares during the quarter. Graypoint LLC’s holdings in Simon Property Group were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SPG. Diligent Investors LLC lifted its holdings in shares of Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the last quarter. TIAA Trust National Association boosted its position in Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 69 shares during the period. Inspire Advisors LLC grew its stake in shares of Simon Property Group by 1.7% during the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after buying an additional 70 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Simon Property Group by 26.9% in the second quarter. Capital Advisors Ltd. LLC now owns 344 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 73 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Simon Property Group by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Scotiabank raised their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Evercore ISI raised their target price on Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.94.

Simon Property Group Trading Up 1.1 %

NYSE SPG opened at $167.35 on Monday. The firm has a market capitalization of $54.56 billion, a PE ratio of 21.32, a P/E/G ratio of 9.17 and a beta of 1.75. The stock’s 50 day moving average is $154.32 and its 200 day moving average is $150.60. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $169.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 firm had revenue of $1.32 billion for 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 quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 EPS. Research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 101.91%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.