1,284 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Canopy Partners LLC

Canopy Partners LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the third quarter, Holdings Channel.com reports. The firm purchased 1,284 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Other large investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its holdings in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Inspire Advisors LLC boosted its position in Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after buying an additional 65 shares during the period. Diligent Investors LLC grew its stake in shares of Simon Property Group by 0.5% during the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after buying an additional 68 shares during the last quarter. Augustine Asset Management Inc. increased its holdings in shares of Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 68 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after acquiring an additional 68 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank lifted their target price on shares of 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. Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Mizuho raised 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. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 0.4 %

NYSE:SPG opened at $181.14 on Friday. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $183.96. The company has a market capitalization of $59.10 billion, a PE ratio of 24.12, a P/E/G ratio of 10.61 and a beta of 1.74. The firm’s 50-day moving average price is $172.55 and its 200-day moving average price is $160.08. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its earnings results 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 net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is currently 109.19%.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.