Simon Property Group, Inc. (NYSE:SPG) Shares Sold by MRP Capital Investments LLC

MRP Capital Investments LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 7.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,555 shares of the real estate investment trust’s stock after selling 125 shares during the period. MRP Capital Investments LLC’s holdings in Simon Property Group were worth $236,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Clearstead Trust LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group during the 2nd quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. grew its stake in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $164.35 on Thursday. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $169.18. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $53.57 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 8.97 and a beta of 1.74. The business has a 50 day simple moving average of $158.49 and a 200-day simple moving average of $151.92.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) 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 company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Analyst Ratings Changes

SPG has been the subject of a number of research analyst reports. Scotiabank upped their price objective on shares of 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. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research report on Monday. 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. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Piper Sandler restated 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by company insiders.

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.