Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,366 shares of the real estate investment trust’s stock after purchasing an additional 1,484 shares during the quarter. Ieq Capital LLC’s holdings in Simon Property Group were worth $2,181,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Intech Investment Management LLC boosted its stake in shares of Simon Property Group by 147.6% during the second quarter. Intech Investment Management LLC now owns 25,904 shares of the real estate investment trust’s stock worth $3,932,000 after buying an additional 15,442 shares during the period. Riverview Capital Advisers LLC raised its stake in Simon Property Group by 0.4% during the 2nd quarter. Riverview Capital Advisers LLC now owns 57,668 shares of the real estate investment trust’s stock valued at $8,754,000 after acquiring an additional 219 shares during the last quarter. Sienna Gestion lifted its position in Simon Property Group by 0.6% during the 2nd quarter. Sienna Gestion now owns 73,798 shares of the real estate investment trust’s stock worth $11,197,000 after acquiring an additional 457 shares during the period. Hsbc Holdings PLC grew its stake in shares of Simon Property Group by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock valued at $162,689,000 after purchasing an additional 67,513 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its holdings in shares of Simon Property Group by 7.1% in the second quarter. Elo Mutual Pension Insurance Co now owns 31,916 shares of the real estate investment trust’s stock valued at $4,845,000 after purchasing an additional 2,104 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $166.55 on Friday. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18. The firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. The business’s 50 day simple moving average is $159.20 and its 200-day simple moving average is $152.14. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. As a group, equities analysts forecast 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 announced 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. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.92%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is presently 104.46%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Argus lifted their target price 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. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Mizuho increased their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, with a total value of $72,982.62. Following the purchase, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

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.