Greystone Financial Group LLC Has $5.89 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Greystone Financial Group LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,812 shares of the real estate investment trust’s stock after purchasing an additional 328 shares during the quarter. Greystone Financial Group LLC’s holdings in Simon Property Group were worth $5,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Simon Property Group by 4.9% during the fourth quarter. Private Advisor Group LLC now owns 23,184 shares of the real estate investment trust’s stock valued at $3,307,000 after acquiring an additional 1,076 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Simon Property Group by 127.2% in the fourth quarter. Apollon Wealth Management LLC now owns 6,663 shares of the real estate investment trust’s stock valued at $950,000 after purchasing an additional 3,730 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Simon Property Group during the fourth quarter valued at $352,000. Versor Investments LP raised its position in Simon Property Group by 9.7% during the fourth quarter. Versor Investments LP now owns 7,990 shares of the real estate investment trust’s stock valued at $1,140,000 after buying an additional 708 shares during the period. Finally, AGF Management Ltd. lifted its stake in Simon Property Group by 0.7% in the 4th quarter. AGF Management Ltd. now owns 43,771 shares of the real estate investment trust’s stock worth $6,243,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 486 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.2 %

NYSE SPG traded up $0.32 during trading on Friday, hitting $164.50. 1,443,684 shares of the company traded hands, compared to its average volume of 1,232,583. The company has a market capitalization of $53.63 billion, a P/E ratio of 20.96, a PEG ratio of 9.05 and a beta of 1.74. The business has a fifty day simple moving average of $155.87 and a 200 day simple moving average of $151.13. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last posted its earnings results 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 return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.98%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 101.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPG. Truist Financial upped their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Evercore ISI upped their price target on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $161.28.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.