Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Graypoint LLC

Graypoint LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,303 shares of the real estate investment trust’s stock after buying an additional 289 shares during the period. Graypoint LLC’s holdings in Simon Property Group were worth $558,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Simon Property Group during the 2nd quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group during the second quarter worth $27,000. Finally, Pathway Financial Advisers LLC purchased a new position in Simon Property Group in the first quarter valued at $29,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $179.04 on Friday. The stock has a fifty day moving average price of $169.33 and a 200 day moving average price of $157.46. Simon Property Group, Inc. has a 1-year low of $113.40 and a 1-year high of $179.46. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The company has a market cap of $58.37 billion, a PE ratio of 23.84, a P/E/G ratio of 9.89 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 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 analyst estimates of $1.32 billion. During the same quarter last year, the business posted $3.20 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.81 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is 109.19%.

Insider Activity

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, with a total value 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 approximately $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 is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. 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 issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Mizuho raised their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.78.

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.