Captrust Financial Advisors Reduces Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Captrust Financial Advisors lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,743 shares of the real estate investment trust’s stock after selling 490 shares during the quarter. Captrust Financial Advisors’ holdings in Simon Property Group were worth $3,844,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the 3rd quarter worth approximately $30,000. RFP Financial Group LLC lifted its stake 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 worth $28,000 after purchasing an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s 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 completion of the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $180.67 on Wednesday. The stock has a market cap of $58.95 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 10.59 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $127.60 and a 12 month high of $186.00. The company’s 50 day moving average is $174.78 and its two-hundred day moving average is $161.91.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.20 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.65%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho increased their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

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.