Edgestream Partners L.P. Has $2.11 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Edgestream Partners L.P. lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,899 shares of the real estate investment trust’s stock after selling 222 shares during the quarter. Edgestream Partners L.P.’s holdings in Simon Property Group were worth $2,110,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after purchasing an additional 421,560 shares in the last quarter. Franklin Resources Inc. grew its stake in Simon Property Group by 134.3% in the fourth quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock valued at $80,424,000 after purchasing an additional 323,168 shares in the last quarter. Castle Hook Partners LP increased its position in shares of Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after purchasing an additional 310,207 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after purchasing an additional 261,430 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPG shares. Mizuho boosted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a research note on Monday. Stifel Nicolaus reissued 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. Finally, Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Trading Up 1.6 %

Shares of SPG stock opened at $167.05 on Friday. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The company has a market capitalization of $54.46 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. The firm has a 50 day moving average price of $158.86 and a two-hundred day moving average price of $152.03. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

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 analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is presently 104.46%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate 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.