LS Investment Advisors LLC Invests $301,000 in Simon Property Group, Inc. (NYSE:SPG)

LS Investment Advisors LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,781 shares of the real estate investment trust’s stock, valued at approximately $301,000.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SPG shares. Mizuho upped 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. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

SPG stock opened at $175.75 on Friday. The business has a 50 day simple moving average of $168.89 and a 200-day simple moving average of $157.07. The company has a market capitalization of $57.30 billion, a P/E ratio of 23.40, a PEG ratio of 9.89 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $113.40 and a twelve month high of $178.71. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.20 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.81 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. Investors 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.78%. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by company insiders.

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.