Catalina Capital Group LLC Raises Holdings in Simon Property Group, Inc. (NYSE:SPG)

Catalina Capital Group LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,986 shares of the real estate investment trust’s stock after buying an additional 180 shares during the period. Catalina Capital Group LLC’s holdings in Simon Property Group were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tobias Financial Advisors Inc. boosted its stake in shares of Simon Property Group by 2.7% in the 3rd quarter. Tobias Financial Advisors Inc. now owns 3,660 shares of the real estate investment trust’s stock worth $619,000 after buying an additional 97 shares during the last quarter. Red Cedar Investment Management LLC boosted its stake in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Simon Property Group by 5.2% in the 3rd quarter. QRG Capital Management Inc. now owns 178,867 shares of the real estate investment trust’s stock worth $30,232,000 after buying an additional 8,791 shares during the last quarter. National Pension Service boosted its stake in shares of Simon Property Group by 12.8% in the 3rd quarter. National Pension Service now owns 929,095 shares of the real estate investment trust’s stock worth $157,036,000 after buying an additional 105,638 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of Simon Property Group in the 3rd quarter worth $74,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank raised their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. 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 report on Thursday, September 12th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Truist Financial boosted 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. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by company insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $173.61 on Thursday. The stock’s 50-day simple moving average is $168.89 and its 200-day simple moving average is $157.07. Simon Property Group, Inc. has a 52 week low of $113.40 and a 52 week high of $178.71. The company has a market capitalization of $56.60 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 9.79 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its earnings results 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.20 earnings per share. As a group, analysts expect that Simon Property Group, Inc. will post 12.83 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 109.19%.

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.