Great Valley Advisor Group Inc. Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Great Valley Advisor Group Inc. increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 26,390 shares of the real estate investment trust’s stock after acquiring an additional 1,435 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Simon Property Group were worth $4,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPG. Aptus Capital Advisors LLC raised its position in shares of Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after buying an additional 65 shares during the last quarter. Diligent Investors LLC raised its holdings in Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after acquiring an additional 68 shares in the last quarter. Augustine Asset Management Inc. raised its holdings in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction on Monday, September 30th. The shares were bought 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 of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. 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 report on Tuesday, September 3rd. Scotiabank increased 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. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 0.4 %

Shares of Simon Property Group stock opened at $181.14 on Friday. The stock has a market capitalization of $59.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 10.61 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The business’s 50 day simple moving average is $172.55 and its 200-day simple moving average is $160.16.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 earnings per share. Equities research analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

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.