2,222 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,222 shares of the real estate investment trust’s stock, valued at approximately $376,000.

A number of other institutional investors also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC acquired a new position in shares of Simon Property Group in the first quarter valued at approximately $208,000. Tidal Investments LLC lifted its holdings in shares of Simon Property Group by 19.5% during the first quarter. Tidal Investments LLC now owns 12,849 shares of the real estate investment trust’s stock worth $2,006,000 after purchasing an additional 2,099 shares during the period. Swedbank AB purchased a new position in Simon Property Group in the 1st quarter valued at $20,707,000. Atria Investments Inc increased its stake in Simon Property Group by 6.0% in the 1st quarter. Atria Investments Inc now owns 27,651 shares of the real estate investment trust’s stock valued at $4,327,000 after buying an additional 1,554 shares during the period. Finally, Burney Co. purchased a new position in Simon Property Group during the 1st quarter worth $210,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SPG shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho lifted their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. 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 research note on Wednesday, August 28th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Activity

In other news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price 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 $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.75 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. The firm has a 50-day moving average price of $173.96 and a two-hundred day moving average price of $161.04. Simon Property Group, Inc. has a twelve month low of $120.50 and a twelve month high of $186.00.

Simon Property Group (NYSE:SPG) last issued 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $3.20 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts expect that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. 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 payout ratio is 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.