Catalytic Wealth RIA LLC Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Catalytic Wealth RIA LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 175.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,380 shares of the real estate investment trust’s stock after acquiring an additional 3,428 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Simon Property Group were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Lighthouse Investment Partners LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at $5,706,000. Corient Private Wealth LLC lifted its holdings in Simon Property Group by 97.8% in the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock valued at $10,708,000 after acquiring an additional 37,108 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Simon Property Group by 3.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 510,682 shares of the real estate investment trust’s stock worth $71,541,000 after purchasing an additional 15,251 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Simon Property Group by 11.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after purchasing an additional 3,626 shares during the period. Finally, Napa Wealth Management purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $3,151,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research reports. Argus upped their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Truist Financial increased their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday. Scotiabank increased 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. Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Evercore ISI upped their price target on Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average target price of $160.94.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Trading Up 1.1 %

SPG stock opened at $167.35 on Friday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18. The firm has a market cap of $54.56 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 9.17 and a beta of 1.75. The firm has a fifty day moving average price of $154.32 and a 200 day moving average price of $150.55. 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 (NYSE:SPG) last announced its quarterly 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 net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business posted $2.88 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 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, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.90%. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 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.