Susquehanna Fundamental Investments LLC Trims Stake in Simon Property Group, Inc. (NYSE:SPG)

Susquehanna Fundamental Investments LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,298 shares of the real estate investment trust’s stock after selling 753 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Simon Property Group were worth $8,394,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Clearstead Trust LLC bought a new position in shares of Simon Property Group in the first quarter worth about $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Simon Property Group during the 2nd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group during the second quarter valued at approximately $27,000. Finally, Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the first quarter valued at approximately $29,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $167.71 on Friday. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 9.32 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $170.87. The stock’s 50 day simple moving average is $160.77 and its two-hundred day simple moving average is $152.76. 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 (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share 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. Stockholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 4.89%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 104.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SPG shares. Scotiabank raised 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 report on Monday, August 26th. Mizuho raised their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. StockNews.com raised 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 set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus reissued 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.