Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Xponance Inc.

Xponance Inc. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,047 shares of the real estate investment trust’s stock after buying an additional 1,489 shares during the quarter. Xponance Inc.’s holdings in Simon Property Group were worth $9,722,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPG. Vanguard Group Inc. raised its position 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 valued at $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. 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 buying an additional 92,648 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Simon Property Group by 4.5% in the 1st 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 buying an additional 78,866 shares during the period. PGGM Investments grew its position in shares of Simon Property Group by 1.9% during the 2nd 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 last quarter. Finally, Sei Investments Co. lifted its holdings in Simon Property Group by 13.7% in the fourth quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock worth $155,030,000 after acquiring an additional 130,729 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho raised their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Piper Sandler restated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Stock Performance

SPG opened at $168.17 on Tuesday. The business has a 50 day moving average price of $159.56 and a two-hundred day moving average price of $152.27. 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 company 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 1-year low of $102.11 and a 1-year high of $169.18.

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 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 for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business earned $2.88 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.88%. Simon Property Group’s dividend payout ratio is currently 104.46%.

Insider Buying and Selling

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

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.