Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,511 shares of the real estate investment trust’s stock after acquiring an additional 361 shares during the period. Wedmont Private Capital’s holdings in Simon Property Group were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SPG. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter worth $25,000. EntryPoint Capital LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter valued at about $27,000. Finally, RFP Financial Group LLC grew its holdings in shares of 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 valued at $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of several recent analyst reports. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Piper Sandler reissued a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. 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, the stock presently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Down 0.8 %

Shares of NYSE SPG opened at $167.83 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a market capitalization of $54.72 billion, a PE ratio of 21.33, a PEG ratio of 9.27 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $104.05 and a twelve month high of $170.87. The stock has a fifty day simple moving average of $163.20 and a 200-day simple moving average of $153.65.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.89%. Simon Property Group’s payout ratio is 104.19%.

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.