1,553 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Weil Company Inc.

Weil Company Inc. acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,553 shares of the real estate investment trust’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in Simon Property Group in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the 2nd quarter worth $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the 1st quarter worth $26,000. Cape Investment Advisory Inc. increased its stake in Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the period. Finally, RFP Financial Group LLC raised its holdings in shares of 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 buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SPG shares. Evercore ISI boosted their target price on Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Scotiabank increased their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus boosted their target price on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $161.28.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of Simon Property Group stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

Shares of SPG stock opened at $164.52 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $169.18. The firm has a fifty day moving average of $155.87 and a two-hundred day moving average of $151.13. The firm has a market cap of $53.62 billion, a P/E ratio of 20.96, a P/E/G ratio of 9.17 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.98%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 104.46%.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.