Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,178 shares of the real estate investment trust’s stock after selling 149 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Simon Property Group were worth $1,720,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPG. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at about $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group in the second quarter worth about $27,000. RFP Financial Group LLC grew its stake in Simon Property Group by 727.3% during 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 purchased a new stake in shares of Simon Property Group in the first quarter valued at approximately $29,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Allan B. Hubbard bought 370 shares of Simon Property Group 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 in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

Simon Property Group Trading Up 0.3 %

NYSE SPG opened at $180.85 on Tuesday. Simon Property Group, Inc. has a one year low of $119.92 and a one year high of $182.84. The firm has a 50 day simple moving average of $171.15 and a 200-day simple moving average of $159.25. The firm has a market cap of $59.01 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 10.52 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $3.20 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.79 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. Shareholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPG shares. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Scotiabank upped 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. Finally, Mizuho lifted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently 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.