Vontobel Holding Ltd. Makes New $310,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Vontobel Holding Ltd. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,836 shares of the real estate investment trust’s stock, valued at approximately $310,000.

Several other large investors also recently modified their holdings of SPG. Vanguard Group Inc. increased its stake in 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 worth $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Simon Property Group by 16,795.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after acquiring an additional 421,560 shares in the last quarter. Castle Hook Partners LP boosted its stake in Simon Property Group by 182.0% in the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after purchasing an additional 310,207 shares during the period. Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after purchasing an additional 261,430 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Simon Property Group by 121.6% in the 1st quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock valued at $67,758,000 after purchasing an additional 251,679 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.4 %

Simon Property Group stock opened at $174.85 on Wednesday. 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’s 50-day moving average is $166.73 and its 200-day moving average is $155.02. The firm has a market capitalization of $57.01 billion, a PE ratio of 22.22, a P/E/G ratio of 9.70 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $104.05 and a fifty-two week high of $177.08.

Simon Property Group (NYSE:SPG) last announced its quarterly 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 return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the firm earned $2.88 EPS. Simon Property Group’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. Simon Property Group’s payout ratio is 104.19%.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard bought 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, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPG shares. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Company 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.