Invst LLC Sells 340 Shares of Simon Property Group, Inc. (NYSE:SPG)

Invst LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,965 shares of the real estate investment trust’s stock after selling 340 shares during the period. Invst LLC’s holdings in Simon Property Group were worth $727,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPG. Vanguard Group Inc. lifted its stake in shares of Simon Property Group by 1.5% in 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 during the last quarter. Strategic Financial Concepts LLC lifted its position in Simon Property Group by 16,795.2% in the second 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 lifted its position in Simon Property Group by 182.0% in the first 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 boosted its stake in shares of Simon Property Group by 5,778.7% during 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 purchasing an additional 261,430 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of 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 worth $67,758,000 after purchasing an additional 251,679 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPG shares. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Argus boosted their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. 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 report on Tuesday, September 3rd. Finally, Truist Financial lifted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report 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. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Up 0.8 %

SPG stock opened at $169.02 on Tuesday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $170.87. The company has a market capitalization of $55.11 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 9.32 and a beta of 1.74. The business’s 50 day moving average price is $160.99 and its two-hundred day moving average price is $152.90. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last issued its quarterly 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). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 earnings per share. As a group, analysts forecast 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 declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Simon Property Group Profile

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.