Fidelis Capital Partners LLC Purchases 495 Shares of Simon Property Group, Inc. (NYSE:SPG)

Fidelis Capital Partners LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 28.9% in the 2nd quarter, Holdings Channel reports. The fund owned 2,209 shares of the real estate investment trust’s stock after buying an additional 495 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Simon Property Group were worth $338,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Vanguard Group Inc. lifted its holdings in Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Boston Partners lifted its stake in shares of Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock worth $283,905,000 after buying an additional 78,866 shares during the period. PGGM Investments boosted its holdings in Simon Property Group by 1.9% in the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after buying an additional 23,186 shares during the period. Finally, Sei Investments Co. grew its stake in Simon Property Group by 13.7% in the 4th quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock valued at $155,030,000 after buying an additional 130,729 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 486 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Performance

NYSE:SPG opened at $168.17 on Tuesday. The stock has a market cap of $54.81 billion, a P/E ratio of 21.42, a PEG ratio of 9.04 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The business’s 50-day moving average price is $159.56 and its two-hundred day moving average price is $152.27. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $169.18.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share 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 company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business earned $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, equities analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $2.05 per share. This is an increase 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 4.88%. The ex-dividend date is Monday, September 9th. Simon Property Group’s payout ratio is currently 104.46%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPG shares. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $162.78.

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.