Simon Property Group, Inc. (NYSE:SPG) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,099 shares of the real estate investment trust’s stock after purchasing an additional 184 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Simon Property Group were worth $2,045,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SPG. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the second quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC raised 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 valued at $28,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of the 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. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. Truist Financial increased their price target on 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 Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank increased 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. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Mizuho increased their price objective 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Up 0.1 %

SPG opened at $172.18 on Thursday. The business’s 50-day simple moving average is $168.39 and its 200-day simple moving average is $156.01. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a one year low of $104.93 and a one year high of $177.08. The stock has a market capitalization of $56.12 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 9.35 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $2.88 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a dividend of $2.05 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.76%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

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.