Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,916 shares of the real estate investment trust’s stock after acquiring an additional 2,104 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Simon Property Group were worth $4,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SPG. Lighthouse Investment Partners LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $5,706,000. Corient Private Wealth LLC boosted its stake in shares of Simon Property Group by 97.8% during the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock worth $10,708,000 after buying an additional 37,108 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 3,626 shares during the period. Napa Wealth Management acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $3,151,000. Finally, Aspiriant LLC acquired a new stake in shares of Simon Property Group during the first quarter worth about $1,139,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

NYSE SPG opened at $164.35 on Thursday. The stock has a market capitalization of $53.57 billion, a P/E ratio of 20.94, a P/E/G ratio of 8.97 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $169.18. The firm has a 50-day moving average price of $158.49 and a 200 day moving average price of $151.92. 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 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). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company 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 quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. 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 4.99%. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a research note on Monday. 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 note on Tuesday, September 3rd. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Argus increased their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $162.78.

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.