Bank of Montreal Can Purchases 22,133 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bank of Montreal Can boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,962 shares of the real estate investment trust’s stock after buying an additional 22,133 shares during the period. Bank of Montreal Can owned about 0.24% of Simon Property Group worth $122,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new position in shares of Simon Property Group during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the second quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the first quarter valued at $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the second quarter valued at about $27,000. Finally, Cape Investment Advisory Inc. increased its position in 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 purchasing an additional 192 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $168.17 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a market capitalization of $54.81 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $169.18. The company has a 50-day simple moving average of $159.56 and a two-hundred day simple moving average of $152.27.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $2.88 earnings per share. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPG. Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Piper Sandler restated a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Argus upped their price objective 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. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.78.

About Simon Property Group

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.