MBB Public Markets I LLC Purchases 20,431 Shares of Simon Property Group, Inc. (NYSE:SPG)

MBB Public Markets I LLC lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 949.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,584 shares of the real estate investment trust’s stock after acquiring an additional 20,431 shares during the quarter. MBB Public Markets I LLC’s holdings in Simon Property Group were worth $3,428,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Clearstead Trust LLC acquired a new position in Simon Property Group in the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the second quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. bought a new stake in Simon Property Group during the 2nd quarter worth about $27,000. Finally, RFP Financial Group LLC increased its position in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SPG shares. Truist Financial upped their target price 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. Scotiabank increased their price objective 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. Mizuho lifted 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 reaffirmed a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Up 0.8 %

NYSE:SPG opened at $167.71 on Friday. 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, Inc. has a 12-month low of $102.11 and a 12-month high of $170.87. The stock’s fifty day simple moving average is $160.77 and its 200-day simple moving average is $152.74. The firm has a market capitalization of $54.68 billion, a P/E ratio of 21.36, a P/E/G ratio of 9.32 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its 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). The company 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. Equities research analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 104.46%.

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.