Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 147.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,904 shares of the real estate investment trust’s stock after acquiring an additional 15,442 shares during the quarter. Intech Investment Management LLC’s holdings in Simon Property Group were worth $3,932,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Simon Property Group during the 2nd quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth about $27,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Truist Financial raised their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Mizuho boosted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Argus raised their target price 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 issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $166.55 on Friday. The firm’s 50 day moving average is $159.20 and its two-hundred day moving average is $152.14. The firm has a market capitalization of $54.30 billion, a P/E ratio of 21.22, a PEG ratio of 9.04 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $169.18.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business earned $2.88 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.92%. 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. Simon Property Group’s payout ratio is 104.46%.

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.