Orion Portfolio Solutions LLC Increases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Orion Portfolio Solutions LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,139 shares of the real estate investment trust’s stock after acquiring an additional 1,192 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Simon Property Group were worth $1,714,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Simon Property Group by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after acquiring an additional 3,626 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Simon Property Group by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,948 shares of the real estate investment trust’s stock worth $4,091,000 after acquiring an additional 2,016 shares during the period. Silver Lake Advisory LLC acquired a new stake in Simon Property Group in the second quarter worth approximately $377,000. Assenagon Asset Management S.A. boosted its stake in Simon Property Group by 4.9% during the second quarter. Assenagon Asset Management S.A. now owns 7,043 shares of the real estate investment trust’s stock valued at $1,069,000 after buying an additional 330 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $138,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction 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 acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $177.20 on Friday. The stock has a market capitalization of $57.82 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 10.33 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 1 year low of $133.11 and a 1 year high of $186.00. The firm has a 50 day moving average of $176.28 and a 200-day moving average of $163.24.

Simon Property Group (NYSE:SPG) last issued 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 business had revenue of $1.48 billion during 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 revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.20 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.74%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

Analyst Ratings Changes

Several equities analysts have weighed in on SPG shares. Piper Sandler reaffirmed 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. Scotiabank lifted their price objective on 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. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. 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 presently has an average rating of “Hold” and an average price target of $165.44.

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.