175 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 175 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Simon Property Group during the first quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Simon Property Group during the 2nd quarter worth about $25,000. Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $29,000. Finally, RFP Financial Group LLC raised 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 valued at $28,000 after purchasing an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of SPG stock opened at $163.96 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 9.01 and a beta of 1.74. The stock’s 50-day simple moving average is $156.51 and its 200-day simple moving average is $151.32.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 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 during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $2.88 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities 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 will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 5.00%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 101.91%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 486 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPG shares. Piper Sandler reiterated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank increased 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 boosted their price target on Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.