Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 9,444 shares of the real estate investment trust’s stock after acquiring an additional 130 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Simon Property Group were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the second quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter valued at $27,000. Finally, RFP Financial Group LLC boosted its holdings in shares of Simon Property Group by 727.3% in the 2nd 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 last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.8 %

Simon Property Group stock opened at $170.78 on Friday. The firm has a 50-day moving average price of $163.88 and a two-hundred day moving average price of $153.91. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 9.27 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $104.05 and a 52-week high of $171.51. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 earnings per share. 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 declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $2.05 dividend. 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 dividend yield of 4.80%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 104.46%.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Mizuho lifted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Truist Financial lifted their target price 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 raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Piper Sandler reaffirmed 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.