Gilman Hill Asset Management LLC Has $921,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

Gilman Hill Asset Management LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,451 shares of the real estate investment trust’s stock after buying an additional 425 shares during the period. Gilman Hill Asset Management LLC’s holdings in Simon Property Group were worth $921,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Boston Partners increased its stake in shares of Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after acquiring an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Simon Property Group by 4.5% during the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares during the period. PGGM Investments boosted its stake in Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after acquiring an additional 23,186 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Simon Property Group by 6.7% in the second quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock worth $162,689,000 after purchasing an additional 67,513 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Truist Financial raised their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Scotiabank increased their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Trading Up 1.8 %

Shares of NYSE SPG traded up $2.95 during midday trading on Friday, hitting $170.78. 1,135,442 shares of the company traded hands, compared to its average volume of 1,683,032. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $171.51. The firm has a market cap of $55.68 billion, a P/E ratio of 21.70, a P/E/G ratio of 9.20 and a beta of 1.74. The stock has a 50-day moving average price of $163.88 and a 200 day moving average price of $153.91. 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 data 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). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.80%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is 104.19%.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by company insiders.

About Simon Property Group

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.