Mission Creek Capital Partners Inc. Invests $239,000 in Simon Property Group, Inc. (NYSE:SPG)

Mission Creek Capital Partners Inc. purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,414 shares of the real estate investment trust’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPG. CWM LLC lifted its position in shares of Simon Property Group by 21.7% in the 2nd quarter. CWM LLC now owns 9,080 shares of the real estate investment trust’s stock worth $1,378,000 after purchasing an additional 1,621 shares during the period. Simplicity Wealth LLC lifted its position in shares of Simon Property Group by 1.8% in the 2nd quarter. Simplicity Wealth LLC now owns 6,104 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 107 shares during the period. BDF Gestion acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $5,850,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Finally, Atlas Private Wealth Advisors acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $304,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPG. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Truist Financial boosted 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 report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Piper Sandler restated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $165.44.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred 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 completion of the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents 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 hyperlink. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Performance

NYSE SPG opened at $181.51 on Thursday. Simon Property Group, Inc. has a 1 year low of $129.08 and a 1 year high of $186.00. 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 firm has a market cap of $59.22 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 10.55 and a beta of 1.75. The company has a fifty day moving average price of $175.03 and a 200-day moving average price of $162.05.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.63%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 109.19%.

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.