William Allan Corp Grows Position in Simon Property Group, Inc. (NYSE:SPG)

William Allan Corp raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,928 shares of the real estate investment trust’s stock after acquiring an additional 243 shares during the quarter. William Allan Corp’s holdings in Simon Property Group were worth $326,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in SPG. Wealth Enhancement Advisory Services LLC boosted its holdings in Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 3,626 shares in the last quarter. Red Cedar Investment Management LLC lifted its position in shares of Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares during the period. TTP Investments Inc. boosted its stake in shares of Simon Property Group by 42.0% during the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Forte Capital LLC ADV acquired a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $630,000. Finally, Radnor Capital Management LLC purchased a new position in Simon Property Group in the 3rd quarter valued at approximately $1,602,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of several research reports. Piper Sandler reissued a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.2 %

SPG stock opened at $183.75 on Friday. The company has a 50 day moving average price of $173.96 and a two-hundred day moving average price of $161.04. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a PEG ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a one year low of $120.50 and a one year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.78 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 109.19%.

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.