Ballentine Partners LLC Purchases 75 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ballentine Partners LLC lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,702 shares of the real estate investment trust’s stock after buying an additional 75 shares during the period. Ballentine Partners LLC’s holdings in Simon Property Group were worth $795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Clearstead Trust LLC bought a new stake in Simon Property Group in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group during the second quarter worth $27,000. Finally, RFP Financial Group LLC grew its holdings in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPG shares. Truist Financial upped their price objective 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. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank boosted their price objective 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. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Piper Sandler restated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

NYSE SPG opened at $170.52 on Friday. The company has a fifty day moving average price of $167.66 and a 200-day moving average price of $155.42. The firm has a market cap of $55.58 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 9.58 and a beta of 1.74. 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.

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 analysts’ consensus estimates 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 firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.