Edgestream Partners L.P. Sells 222 Shares of Simon Property Group, Inc. (NYSE:SPG)

Edgestream Partners L.P. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,899 shares of the real estate investment trust’s stock after selling 222 shares during the quarter. Edgestream Partners L.P.’s holdings in Simon Property Group were worth $2,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Simon Property Group by 16,795.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after purchasing an additional 421,560 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Simon Property Group by 134.3% in the 4th quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock valued at $80,424,000 after purchasing an additional 323,168 shares in the last quarter. Castle Hook Partners LP increased its stake in shares of Simon Property Group by 182.0% in the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after buying an additional 261,430 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.6 %

Shares of SPG opened at $167.05 on Friday. The stock’s 50-day moving average price is $158.86 and its two-hundred day moving average price is $152.03. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18. The company has a market capitalization of $54.46 billion, a PE ratio of 21.28, a PEG ratio of 9.04 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.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company posted $2.88 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $2.05 per share. The ex-dividend date of this dividend is 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 yield of 4.91%. Simon Property Group’s dividend payout ratio is currently 104.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPG. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $160.00 to $172.00 in a research note on Monday. Scotiabank upped their price objective on shares of 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Six equities research 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, Simon Property Group has an average rating of “Hold” and an average price target of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.