Legacy Wealth Asset Management LLC Has $2.40 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Legacy Wealth Asset Management LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 14,213 shares of the real estate investment trust’s stock after acquiring an additional 190 shares during the period. Simon Property Group accounts for 0.6% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 27th largest position. Legacy Wealth Asset Management LLC’s holdings in Simon Property Group were worth $2,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Boston Partners lifted its position in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after acquiring an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC lifted its position in Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares in the last quarter. PGGM Investments lifted its position in Simon Property Group by 1.9% in the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after acquiring an additional 23,186 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Simon Property Group by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock valued at $162,689,000 after acquiring an additional 67,513 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SPG has been the topic of several research reports. Mizuho boosted their price objective 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. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a research report 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 report on Thursday, September 12th. Finally, Truist Financial lifted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 1.6 %

Shares of SPG stock opened at $170.54 on Friday. The firm has a market capitalization of $55.59 billion, a P/E ratio of 21.72, a PEG ratio of 9.58 and a beta of 1.74. The firm’s fifty day moving average price is $167.38 and its two-hundred day moving average price is $155.27. Simon Property Group, Inc. has a 1 year low of $104.05 and a 1 year 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.

Simon Property Group (NYSE:SPG) last released 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). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 earnings per share. On average, equities analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $2.05 per share. The ex-dividend date of this dividend was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.81%. Simon Property Group’s payout ratio is currently 104.46%.

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.