Trivant Custom Portfolio Group LLC Invests $42,000 in Simon Property Group, Inc. (NYSE:SPG)

Trivant Custom Portfolio Group LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 250 shares of the real estate investment trust’s stock, valued at approximately $42,000.

Several other hedge funds have also added to or reduced their stakes in the business. Lighthouse Investment Partners LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth $5,706,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Simon Property Group by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after buying an additional 3,626 shares during the last quarter. Napa Wealth Management acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $3,151,000. Aspiriant LLC bought a new position in shares of Simon Property Group during the first quarter worth about $1,139,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Simon Property Group by 333.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock worth $3,839,000 after acquiring an additional 18,872 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.7 %

Shares of SPG traded up $1.23 during trading hours on Friday, hitting $169.58. The stock had a trading volume of 1,211,204 shares, compared to its average volume of 1,778,016. The firm has a 50 day simple moving average of $162.34 and a 200-day simple moving average of $153.37. Simon Property Group, Inc. has a 1-year low of $102.82 and a 1-year high of $170.87. 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 firm has a market capitalization of $55.29 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 9.23 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $2.05 per share. 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 dividend yield of 4.84%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired 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 of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPG. Stifel Nicolaus reissued a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Mizuho upped their price target 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. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Piper Sandler restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has a consensus 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.