Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.3% in the third quarter, HoldingsChannel.com reports. The firm owned 4,442 shares of the real estate investment trust’s stock after acquiring an additional 718 shares during the quarter. Summit Trail Advisors LLC’s holdings in Simon Property Group were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in Simon Property Group during the first quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Simon Property Group in the 1st quarter valued at approximately $29,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG opened at $180.16 on Tuesday. Simon Property Group, Inc. has a 1 year low of $119.92 and a 1 year high of $183.96. The stock has a market capitalization of $58.78 billion, a PE ratio of 23.99, a PEG ratio of 10.57 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a 50-day simple moving average of $172.86 and a 200-day simple moving average of $160.47.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $3.20 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is presently 109.19%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank lifted their target price on 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. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Mizuho raised 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 note on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

About Simon Property Group

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.