Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Autumn Glory Partners LLC

Autumn Glory Partners LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,420 shares of the real estate investment trust’s stock after acquiring an additional 2,710 shares during the period. Autumn Glory Partners LLC’s holdings in Simon Property Group were worth $916,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SPG. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the 2nd quarter worth about $27,000. Finally, RFP Financial Group LLC increased its holdings in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought 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 $5,738,557.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Scotiabank increased their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

NYSE:SPG opened at $172.52 on Tuesday. Simon Property Group, Inc. has a twelve month low of $104.24 and a twelve month high of $177.08. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a 50-day moving average of $167.91 and a 200-day moving average of $155.70. The firm has a market cap of $56.23 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 9.35 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $2.88 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 4.75%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

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.