Caprock Group LLC Raises Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Caprock Group LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 207.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 15,665 shares of the real estate investment trust’s stock after acquiring an additional 10,575 shares during the quarter. Caprock Group LLC’s holdings in Simon Property Group were worth $2,648,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group during the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new stake in shares of Simon Property Group during the first quarter worth approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the second quarter worth approximately $27,000. RFP Financial Group LLC lifted its holdings in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new position in Simon Property Group in the 1st quarter valued at $29,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $181.21 on Wednesday. The stock has a fifty day moving average price of $171.50 and a 200 day moving average price of $159.52. 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 cap of $59.13 billion, a PE ratio of 24.13, a P/E/G ratio of 10.52 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $119.92 and a 1 year high of $182.84.

Simon Property Group (NYSE:SPG) last issued 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). The business 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%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.20 earnings per share. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Analyst Ratings Changes

A number of equities analysts have commented on SPG shares. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Mizuho boosted their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Scotiabank lifted their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $162.78.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction 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 transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

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.