Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,851 shares of the real estate investment trust’s stock after acquiring an additional 1,128 shares during the quarter. Ritholtz Wealth Management’s holdings in Simon Property Group were worth $1,665,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Valeo Financial Advisors LLC boosted its stake in Simon Property Group by 1.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 9,444 shares of the real estate investment trust’s stock worth $1,596,000 after purchasing an additional 130 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Simon Property Group by 433.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,954 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 2,400 shares during the period. Castle Rock Wealth Management LLC lifted its stake in shares of Simon Property Group by 1.1% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 8,657 shares of the real estate investment trust’s stock valued at $1,455,000 after purchasing an additional 91 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Simon Property Group by 7.1% in the 3rd quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 154 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Simon Property Group by 5.9% in the 3rd quarter. Wedmont Private Capital now owns 6,511 shares of the real estate investment trust’s stock valued at $1,091,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPG. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday. Scotiabank upped 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 note on Monday, August 26th. Finally, Mizuho boosted their price target 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. 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, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

Shares of SPG stock opened at $170.78 on Monday. The stock has a market cap of $55.68 billion, a P/E ratio of 21.70, a P/E/G ratio of 9.20 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a fifty day moving average price of $163.88 and a two-hundred day moving average price of $153.91. Simon Property Group, Inc. has a one year low of $104.05 and a one year high of $171.51.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business posted $2.88 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Insider Activity

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group 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.