Creative Planning Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Creative Planning increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,678 shares of the real estate investment trust’s stock after purchasing an additional 3,696 shares during the quarter. Creative Planning’s holdings in Simon Property Group were worth $13,467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in Simon Property Group during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Simon Property Group in the 2nd quarter valued at $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the 2nd quarter worth $27,000. Finally, RFP Financial Group LLC boosted its holdings in shares of Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The shares were bought 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. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $174.21 on Tuesday. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a 50-day moving average price of $166.35 and a 200-day moving average price of $154.84. The firm has a market capitalization of $56.80 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 9.70 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.88 EPS. As a group, equities research analysts forecast 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 $2.05 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SPG shares. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Mizuho increased 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group 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.