Algert Global LLC Has $426,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Algert Global LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 38.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,805 shares of the real estate investment trust’s stock after acquiring an additional 772 shares during the quarter. Algert Global LLC’s holdings in Simon Property Group were worth $426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SPG. CIBC Private Wealth Group LLC boosted its holdings in shares of Simon Property Group by 16.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,017 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 696 shares during the last quarter. Prudential PLC increased its stake in shares of Simon Property Group by 21.4% during the 4th quarter. Prudential PLC now owns 16,321 shares of the real estate investment trust’s stock worth $2,328,000 after purchasing an additional 2,875 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $1,370,000. Ossiam lifted its stake in Simon Property Group by 122.6% in the 4th quarter. Ossiam now owns 15,161 shares of the real estate investment trust’s stock valued at $2,163,000 after purchasing an additional 8,350 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in Simon Property Group by 4.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 28,565 shares of the real estate investment trust’s stock worth $4,075,000 after purchasing an additional 1,197 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $167.51 on Tuesday. The firm has a 50-day moving average price of $162.34 and a two-hundred day moving average price of $153.35. Simon Property Group, Inc. has a 12-month low of $103.36 and a 12-month high of $170.87. The company has a market capitalization of $54.61 billion, a P/E ratio of 21.34, a P/E/G ratio of 9.23 and a beta of 1.74. 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 (NYSE:SPG) last issued its quarterly 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 analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.90%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 104.46%.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Argus upped their price objective on shares of 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 restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank upped their price target 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. Finally, Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Six investment 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 company currently 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.