Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,503 shares of the real estate investment trust’s stock after buying an additional 381 shares during the period. Larson Financial Group LLC’s holdings in Simon Property Group were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SPG. Smead Capital Management Inc. grew its holdings in Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after purchasing an additional 88,378 shares during the last quarter. Boston Partners grew its stake in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after acquiring an additional 92,648 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after acquiring an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the last quarter. Finally, PGGM Investments lifted its holdings in shares of Simon Property Group by 1.9% in the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after purchasing an additional 23,186 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $180.16 on Tuesday. Simon Property Group, Inc. has a 1 year low of $119.92 and a 1 year high of $183.96. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a 50 day moving average price of $172.86 and a 200 day moving average price of $160.47. The company has a market cap of $58.78 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 10.57 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced 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 analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 earnings per share. Sell-side analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial raised their price target 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. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price 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.