Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Andra AP fonden

Andra AP fonden grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,200 shares of the real estate investment trust’s stock after purchasing an additional 41,700 shares during the period. Andra AP fonden owned about 0.06% of Simon Property Group worth $27,658,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Clearstead Trust LLC acquired a new stake in Simon Property Group during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group in the 2nd quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the first quarter worth about $26,000. Cape Investment Advisory Inc. grew its position in shares of 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 in the last quarter. Finally, RFP Financial Group LLC raised its holdings in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $161.93 on Tuesday. The company has a market capitalization of $52.80 billion, a PE ratio of 20.63, a P/E/G ratio of 9.01 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $169.18. The company has a 50-day simple moving average of $156.18 and a 200-day simple moving average of $151.23. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion for 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 in the previous year, the business posted $2.88 earnings per share. Equities research analysts predict that Simon Property Group, Inc. will post 12.85 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, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 5.06%. Simon Property Group’s payout ratio is presently 101.91%.

Analysts Set New Price Targets

Several research analysts have commented on SPG shares. Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. StockNews.com raised 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 Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Argus upped their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $161.28.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction 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 acquisition, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Profile

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.