Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 21.2% during the third quarter, HoldingsChannel reports. The firm owned 31,388 shares of the real estate investment trust’s stock after buying an additional 5,484 shares during the period. Intech Investment Management LLC’s holdings in Simon Property Group were worth $5,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aptus Capital Advisors LLC grew its stake in shares of Simon Property Group by 3.9% in 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 increased its stake in Simon Property Group by 1.6% in the 3rd 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 raised its position in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after buying an additional 68 shares during the last quarter. Augustine Asset Management Inc. lifted its stake in shares of Simon Property Group by 3.8% in the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 68 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Simon Property Group by 1.1% in the third 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 in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Down 0.4 %

SPG stock opened at $181.14 on Friday. The company’s 50 day simple moving average is $172.55 and its 200-day simple moving average is $160.08. The firm has a market capitalization of $59.10 billion, a PE ratio of 24.12, a P/E/G ratio of 10.57 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $119.92 and a 12 month high of $183.96. 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 released its quarterly 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). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $3.20 earnings per share. Equities analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.64%. Simon Property Group’s dividend payout ratio is presently 111.85%.

Analysts Set New Price Targets

Several research firms recently issued reports on SPG. Mizuho increased 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. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $162.78.

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.