Simon Property Group, Inc. (NYSE:SPG) Position Lessened by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,158 shares of the real estate investment trust’s stock after selling 120 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Simon Property Group were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SPG. Los Angeles Capital Management LLC lifted its holdings in shares of Simon Property Group by 373.6% in the 3rd 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 purchasing an additional 993,694 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Simon Property Group by 2,520.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Simon Property Group by 16,795.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after purchasing an additional 421,560 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Simon Property Group by 250.7% in the 3rd quarter. KBC Group NV now owns 325,704 shares of the real estate investment trust’s stock worth $55,051,000 after purchasing an additional 232,840 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank lifted their price target on 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. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Truist Financial lifted their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $162.78.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $180.16 on Tuesday. The stock has a market cap of $58.78 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 10.57 and a beta of 1.74. The business has a fifty day simple moving average of $172.86 and a 200-day simple moving average of $160.47. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $119.92 and a 12 month high of $183.96.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 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 analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.20 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.66%. 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 dividend payout ratio (DPR) is 109.19%.

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.