Hennion & Walsh Asset Management Inc. Buys 1,871 Shares of Simon Property Group, Inc. (NYSE:SPG)

Hennion & Walsh Asset Management Inc. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,219 shares of the real estate investment trust’s stock after acquiring an additional 1,871 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Simon Property Group were worth $1,389,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares during the period. MFA Wealth Advisors LLC boosted its holdings in shares of Simon Property Group by 7.3% during the 3rd quarter. MFA Wealth Advisors LLC now owns 2,898 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 198 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Simon Property Group by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,736 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 113 shares in the last quarter. Eastern Bank purchased a new stake in shares of Simon Property Group in the 3rd quarter worth about $42,000. Finally, Signaturefd LLC increased its stake in shares of Simon Property Group by 9.7% in the 3rd quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock worth $925,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Trading Down 1.7 %

Shares of NYSE:SPG opened at $170.52 on Friday. 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 1 year low of $104.05 and a 1 year high of $177.08. The company has a market cap of $55.58 billion, a P/E ratio of 21.72, a PEG ratio of 9.58 and a beta of 1.74. The stock’s fifty day moving average price is $167.66 and its 200-day moving average price is $155.42.

Simon Property Group (NYSE:SPG) last issued 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). The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.88 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $2.05 dividend. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.81%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPG shares. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho upped their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Piper Sandler reissued a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Scotiabank raised their price target 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $162.78.

About Simon Property Group

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.