Blair William & Co. IL Purchases 1,417 Shares of Simon Property Group, Inc. (NYSE:SPG)

Blair William & Co. IL grew its position in Simon Property Group, Inc. (NYSE:SPG) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,326 shares of the real estate investment trust’s stock after buying an additional 1,417 shares during the quarter. Blair William & Co. IL’s holdings in Simon Property Group were worth $2,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after acquiring an additional 672,941 shares during the period. Boston Partners lifted its position in shares of Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after purchasing an additional 92,648 shares during the period. Centersquare Investment Management LLC boosted its stake in shares of Simon Property Group by 4.5% during the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares in the last quarter. PGGM Investments increased its holdings in Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after buying an additional 23,186 shares during the period. Finally, Sei Investments Co. increased its holdings in Simon Property Group by 13.7% during the fourth quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock valued at $155,030,000 after buying an additional 130,729 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 0.3 %

Shares of SPG stock opened at $166.55 on Monday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18. The firm has a market capitalization of $54.29 billion, a PE ratio of 21.22, a P/E/G ratio of 9.04 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s 50-day simple moving average is $159.20 and its 200-day simple moving average is $152.14.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.92%. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent research reports. Argus increased their target price 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. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. 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. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Truist Financial lifted 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 report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.