CreativeOne Wealth LLC Purchases 4,241 Shares of Simon Property Group, Inc. (NYSE:SPG)

CreativeOne Wealth LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 128.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,555 shares of the real estate investment trust’s stock after acquiring an additional 4,241 shares during the quarter. CreativeOne Wealth LLC’s holdings in Simon Property Group were worth $1,277,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Blueshift Asset Management LLC bought a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $376,000. Glenmede Trust Co. NA lifted its position in shares of Simon Property Group by 477.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock worth $16,978,000 after acquiring an additional 83,049 shares during the period. Townsquare Capital LLC raised its holdings in shares of Simon Property Group by 8.8% in the 3rd quarter. Townsquare Capital LLC now owns 27,125 shares of the real estate investment trust’s stock worth $4,585,000 after buying an additional 2,191 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of Simon Property Group by 2.8% in the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after buying an additional 71 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Simon Property Group by 1.0% in the 3rd quarter. Truvestments Capital LLC now owns 22,958 shares of the real estate investment trust’s stock worth $3,880,000 after buying an additional 221 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 0.0 %

NYSE SPG opened at $183.71 on Friday. The stock has a fifty day moving average of $174.30 and a 200-day moving average of $161.30. The stock has a market capitalization of $59.94 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $122.50 and a 52 week high of $186.00. 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 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). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.20 earnings per share. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current year.

Simon Property Group Increases Dividend

The company 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 $2.10 dividend. 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 4.57%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho increased their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Piper Sandler reissued a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank raised their price target 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $162.78.

About Simon Property Group

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.