Connor Clark & Lunn Investment Management Ltd. Has $1.57 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 126.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,279 shares of the real estate investment trust’s stock after purchasing an additional 5,177 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Simon Property Group were worth $1,568,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the second quarter worth $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter worth about $27,000. RFP Financial Group LLC lifted its position 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 acquiring an additional 160 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Simon Property Group during the 1st quarter valued at about $29,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven research 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 has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard acquired 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, with a total value of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.48 on Wednesday. The firm has a market capitalization of $59.87 billion, a PE ratio of 24.43, a P/E/G ratio of 10.57 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a 50-day moving average price of $173.24 and a two-hundred day moving average price of $160.72. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. Simon Property Group’s payout ratio is 111.85%.

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.