Fidelis Capital Partners LLC Has $338,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

Fidelis Capital Partners LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 28.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,209 shares of the real estate investment trust’s stock after purchasing an additional 495 shares during the period. Fidelis Capital Partners LLC’s holdings in Simon Property Group were worth $338,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SPG. Vanguard Group Inc. lifted its stake in shares of 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. Strategic Financial Concepts LLC boosted its stake in shares of Simon Property Group by 16,795.2% in the 2nd 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 during the last quarter. Castle Hook Partners LP boosted its stake in shares of Simon Property Group by 182.0% in the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Simon Property Group by 5,778.7% in the second quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after buying an additional 261,430 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Simon Property Group by 121.6% in the first quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock valued at $67,758,000 after buying an additional 251,679 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $168.17 on Tuesday. The company has a fifty day moving average price of $159.56 and a 200-day moving average price of $152.27. The firm has a market cap of $54.81 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 9.04 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $169.18.

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 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business posted $2.88 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. The ex-dividend date is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.88%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is currently 104.46%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPG. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho increased 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. Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Truist Financial lifted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus 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.