Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,175 shares of the real estate investment trust’s stock after purchasing an additional 68 shares during the quarter. Bleakley Financial Group LLC’s holdings in Simon Property Group were worth $1,044,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group in the second quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group in the first quarter valued at $26,000. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group in the second quarter valued at $27,000. Finally, RFP Financial Group LLC boosted its holdings in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.5 %

SPG stock opened at $176.92 on Monday. The stock has a market cap of $57.67 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 9.41 and a beta of 1.74. The firm’s 50-day simple moving average is $165.93 and its 200 day simple moving average is $154.66. Simon Property Group, Inc. has a fifty-two week low of $104.05 and a fifty-two week high of $177.08. 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 announced its quarterly 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). 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%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 EPS. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $2.05 per share. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.63%. This is an increase 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 research analysts recently weighed in on the company. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler reissued 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. Scotiabank raised their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Mizuho lifted their target price 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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.