World Investment Advisors LLC Buys 521 Shares of Simon Property Group, Inc. (NYSE:SPG)

World Investment Advisors LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 17.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,534 shares of the real estate investment trust’s stock after purchasing an additional 521 shares during the period. World Investment Advisors LLC’s holdings in Simon Property Group were worth $597,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group during the 2nd quarter valued at about $27,000. RFP Financial Group LLC raised its stake in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 160 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC bought a new position in Simon Property Group in the third quarter valued at approximately $42,000. Finally, Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth $42,000. Institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $181.93 on Tuesday. The firm’s fifty day moving average price is $176.94 and its two-hundred day moving average price is $164.03. The stock has a market cap of $59.36 billion, a PE ratio of 24.23, a PEG ratio of 10.50 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00.

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 analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.20 EPS. On average, equities analysts expect that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average target price 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.