Hsbc Holdings PLC Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Hsbc Holdings PLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,074,587 shares of the real estate investment trust’s stock after acquiring an additional 67,513 shares during the period. Hsbc Holdings PLC owned approximately 0.33% of Simon Property Group worth $162,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the second quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group during the second quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. increased its position in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 192 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 486 shares of Simon Property Group stock in a transaction on Friday, June 28th. The shares were bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Simon Property Group stock opened at $164.35 on Thursday. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $169.18. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a market cap of $53.57 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 8.97 and a beta of 1.74. The stock has a 50 day moving average of $158.49 and a 200-day moving average of $151.92.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.99%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Argus upped their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho upped their price target 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 price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target 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.