Simon Property Group, Inc. (NYSE:SPG) Holdings Raised by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 99.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,286 shares of the real estate investment trust’s stock after buying an additional 12,635 shares during the quarter. Vinva Investment Management Ltd’s holdings in Simon Property Group were worth $4,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Simon Property Group by 18.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust’s stock worth $9,028,000 after buying an additional 8,132 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Simon Property Group by 128.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock worth $1,277,000 after buying an additional 4,241 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $376,000. Finally, Glenmede Trust Co. NA lifted its position in Simon Property Group by 477.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock worth $16,978,000 after buying an additional 83,049 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.2 %

Simon Property Group stock opened at $183.75 on Friday. The firm has a market cap of $59.95 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 10.73 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a fifty-two week low of $120.50 and a fifty-two week high of $186.00. The firm has a fifty day moving average price of $173.96 and a two-hundred day moving average price of $161.04.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s payout ratio is presently 109.19%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent research reports. Scotiabank raised their price target 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. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial raised their price target 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. Finally, Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.78.

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.