GHP Investment Advisors Inc. Increases Stake in Simon Property Group, Inc. (NYSE:SPG)

GHP Investment Advisors Inc. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 24.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 428 shares of the real estate investment trust’s stock after purchasing an additional 83 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Simon Property Group were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SPG. Inspire Advisors LLC raised its stake in Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after acquiring an additional 65 shares during the period. Diligent Investors LLC raised its stake in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the period. Augustine Asset Management Inc. raised its position in shares of Simon Property Group by 3.8% during the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of 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 valued at $1,044,000 after buying an additional 68 shares during the last quarter. Finally, TIAA Trust National Association raised its position in shares of Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 69 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Truist Financial lifted their price objective 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. Piper Sandler reiterated a “neutral” rating and set 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 report on Monday, August 26th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Up 1.2 %

NYSE SPG opened at $172.52 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a fifty day moving average of $167.91 and a two-hundred day moving average of $155.70. The firm has a market capitalization of $56.23 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 9.35 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $104.24 and a 52 week high of $177.08.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 4.75%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Simon Property Group Company 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.