Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,067 shares of the real estate investment trust’s stock after purchasing an additional 15,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.33% of Simon Property Group worth $161,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Advisory Inc. lifted its position in Simon Property Group by 5.9% in the fourth quarter. Brown Advisory Inc. now owns 6,381 shares of the real estate investment trust’s stock valued at $910,000 after buying an additional 353 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Simon Property Group by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 28,045 shares of the real estate investment trust’s stock valued at $4,000,000 after purchasing an additional 504 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Simon Property Group by 97.8% in the 4th quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock valued at $10,708,000 after purchasing an additional 37,108 shares during the last quarter. Franklin Resources Inc. lifted its stake in Simon Property Group by 134.3% during the fourth quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock worth $80,424,000 after purchasing an additional 323,168 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Simon Property Group by 1.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 39,858 shares of the real estate investment trust’s stock valued at $5,685,000 after buying an additional 651 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG opened at $166.55 on Friday. The firm has a market capitalization of $54.30 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. 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 business’s fifty day moving average price is $159.20 and its 200 day moving average price is $152.13. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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). 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 firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.92%. Simon Property Group’s dividend payout ratio is 104.46%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research analyst reports. Argus raised their target price 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 restated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Mizuho upped their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 486 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by company insiders.

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.