Catalina Capital Group LLC Buys New Stake in Simon Property Group, Inc. (NYSE:SPG)

Catalina Capital Group LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,806 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Other hedge funds also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in Simon Property Group during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group during the 2nd quarter valued at $25,000. EntryPoint Capital LLC bought a new stake in Simon Property Group in the first quarter worth $26,000. Cape Investment Advisory Inc. boosted its stake in Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 192 shares during the period. Finally, Pathway Financial Advisers LLC bought a new position in Simon Property Group during the first quarter valued at $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on SPG shares. Mizuho upped their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Evercore ISI raised their target price on shares of Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Stifel Nicolaus boosted their price target on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $153.95.

Simon Property Group Stock Up 2.6 %

Simon Property Group stock traded up $4.29 during trading hours on Friday, reaching $166.50. The stock had a trading volume of 1,325,908 shares, compared to its average volume of 1,456,188. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $166.96. The company has a market cap of $54.29 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 8.58 and a beta of 1.75. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The business’s 50 day moving average price is $152.28 and its 200-day moving average price is $149.72.

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

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 4.92%. The ex-dividend date is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is 101.91%.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.