EP Wealth Advisors LLC Has $313,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

EP Wealth Advisors LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 28.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,851 shares of the real estate investment trust’s stock after acquiring an additional 413 shares during the period. EP Wealth Advisors LLC’s holdings in Simon Property Group were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. Aptus Capital Advisors LLC raised its holdings in 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 acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC raised 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 valued at $696,000 after purchasing an additional 65 shares in the last quarter. Augustine Asset Management Inc. lifted its position 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 worth $282,000 after purchasing an additional 68 shares during the period. Bleakley Financial Group LLC boosted its stake in Simon Property Group by 1.1% during the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 68 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in Simon Property Group by 2.8% in the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock valued at $448,000 after buying an additional 71 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.4 %

SPG stock opened at $179.64 on Friday. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The stock has a market capitalization of $58.61 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 10.33 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business has a fifty day moving average price of $176.65 and a 200 day moving average price of $163.56.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS. Analysts expect that Simon Property Group, Inc. will post 12.76 EPS 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. Shareholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 111.85%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Scotiabank upped 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. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $165.44.

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.