Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,388 shares of the real estate investment trust’s stock after purchasing an additional 5,484 shares during the period. Intech Investment Management LLC’s holdings in Simon Property Group were worth $5,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the 1st quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group in the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the 3rd quarter worth about $30,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Simon Property Group during the 1st quarter worth approximately $29,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

NYSE:SPG opened at $181.14 on Friday. The company has a market capitalization of $59.10 billion, a P/E ratio of 24.12, a P/E/G ratio of 10.57 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52 week low of $119.92 and a 52 week high of $183.96. The stock’s fifty day moving average is $172.55 and its two-hundred day moving average is $160.08.

Simon Property Group (NYSE:SPG) last posted its earnings results 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). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $3.20 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. Simon Property Group’s payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Mizuho boosted their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler restated a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. 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 report on Thursday, September 12th. Evercore ISI upgraded 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 report on Monday, September 16th. Finally, Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value 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 represents a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is owned by insiders.

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.