13,200 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,200 shares of the real estate investment trust’s stock, valued at approximately $2,214,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its position in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares during the period. Inspire Advisors LLC grew its holdings in Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares during the period. Diligent Investors LLC increased its position in shares of Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after buying an additional 68 shares in the last quarter. Augustine Asset Management Inc. raised its stake in shares of Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 68 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in shares of Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPG. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler reissued 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. Stifel Nicolaus restated a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Mizuho lifted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Buying and Selling

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 8.60% of the stock is owned by company insiders.

Simon Property Group Trading Down 1.2 %

SPG opened at $181.39 on Tuesday. The firm has a market capitalization of $59.18 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 10.72 and a beta of 1.75. The company’s 50 day simple moving average is $174.30 and its two-hundred day simple moving average is $161.46. Simon Property Group, Inc. has a 1-year low of $127.60 and a 1-year high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 76.21% and a net margin of 43.36%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.20 EPS. Analysts expect that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.63%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 109.19%.

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.