Simon Property Group, Inc. (NYSE:SPG) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its position in Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,186 shares of the real estate investment trust’s stock after acquiring an additional 304 shares during the quarter. IFM Investors Pty Ltd’s holdings in Simon Property Group were worth $23,694,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group during the second quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group during the first quarter worth approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group during the second quarter worth approximately $27,000. Finally, RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.3 %

NYSE SPG traded down $0.48 during trading hours on Thursday, hitting $173.34. 235,530 shares of the company’s stock were exchanged, compared to its average volume of 1,449,099. The business’s 50 day moving average is $167.07 and its 200-day moving average is $155.15. The firm has a market capitalization of $56.52 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08.

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 analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.88 earnings per share. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $2.05 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.73%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.19%.

Insider Activity

In related news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPG shares. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.