Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,186 shares of the real estate investment trust’s stock after buying an additional 304 shares during the quarter. IFM Investors Pty Ltd’s holdings in Simon Property Group were worth $23,694,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in Simon Property Group during the 1st quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group during the 1st quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the 2nd quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group during the 2nd quarter valued at approximately $27,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Simon Property Group during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 0.3 %

Shares of SPG traded down $0.48 during trading hours on Thursday, hitting $173.34. 235,530 shares of the company were exchanged, compared to its average volume of 1,449,099. The company has a market cap of $56.52 billion, a PE ratio of 22.06, a PEG ratio of 9.58 and a beta of 1.74. The firm’s 50 day moving average is $167.07 and its 200-day moving average is $155.15. Simon Property Group, Inc. has a 52 week low of $104.05 and a 52 week high of $177.08. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company earned $2.88 EPS. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a $2.05 dividend. The ex-dividend date was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.73%. Simon Property Group’s dividend payout ratio is presently 104.19%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred 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 directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by insiders.

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.