Edgestream Partners L.P. Has $9.44 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Edgestream Partners L.P. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 301.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,828 shares of the real estate investment trust’s stock after purchasing an additional 41,929 shares during the quarter. Simon Property Group comprises about 0.4% of Edgestream Partners L.P.’s holdings, making the stock its 13th biggest holding. Edgestream Partners L.P.’s holdings in Simon Property Group were worth $9,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares during the period. International Assets Investment Management LLC boosted its holdings in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after acquiring an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC increased its position in Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Simon Property Group by 295.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after purchasing an additional 489,519 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Mizuho lifted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

SPG opened at $183.71 on Friday. The stock has a market cap of $59.94 billion, a P/E ratio of 24.46, a P/E/G ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $122.50 and a 12 month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a fifty day simple moving average of $174.30 and a 200 day simple moving average of $161.30.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $3.20 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that Simon Property Group, Inc. will post 12.78 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Company Profile

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.