Simon Property Group, Inc. (NYSE:SPG) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,323 shares of the real estate investment trust’s stock after buying an additional 3,119 shares during the quarter. ProShare Advisors LLC’s holdings in Simon Property Group were worth $9,309,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Simon Property Group by 1.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 39,858 shares of the real estate investment trust’s stock valued at $5,685,000 after purchasing an additional 651 shares during the last quarter. Commerce Bank increased its position in shares of Simon Property Group by 11.6% in the 4th quarter. Commerce Bank now owns 21,084 shares of the real estate investment trust’s stock valued at $3,007,000 after purchasing an additional 2,189 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Simon Property Group by 12.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 9,217 shares of the real estate investment trust’s stock valued at $1,311,000 after purchasing an additional 997 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Simon Property Group by 9.1% in the 4th quarter. TD Asset Management Inc now owns 118,933 shares of the real estate investment trust’s stock valued at $16,965,000 after purchasing an additional 9,887 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Truist Financial increased their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Trading Up 1.2 %

Shares of Simon Property Group stock opened at $170.11 on Wednesday. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $170.87. 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 company has a market capitalization of $55.46 billion, a P/E ratio of 21.67, a PEG ratio of 9.21 and a beta of 1.74. The company’s fifty day moving average is $159.93 and its two-hundred day moving average is $152.40.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. 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 will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given 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 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Simon Property Group 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.