Simon Property Group, Inc. (NYSE:SPG) Shares Bought by William Allan Corp

William Allan Corp raised its position in Simon Property Group, Inc. (NYSE:SPG) by 14.4% during the third quarter, HoldingsChannel.com reports. The firm owned 1,928 shares of the real estate investment trust’s stock after buying an additional 243 shares during the quarter. William Allan Corp’s holdings in Simon Property Group were worth $326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the second quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group during the 2nd quarter worth $27,000. RFP Financial Group LLC increased its holdings in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Simon Property Group in the first quarter valued at about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Simon Property Group in the second quarter valued at about $30,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.2 %

SPG stock opened at $183.75 on Friday. 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 firm has a 50 day simple moving average of $173.96 and a 200-day simple moving average of $161.04. The company has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a PEG ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $120.50 and a twelve month high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company 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%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 earnings per share. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal 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 is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is currently 109.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SPG. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank lifted their price objective on shares of 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. Truist Financial upped their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased 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 directly owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently 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.