DRW Securities LLC Acquires Shares of 1,699 Simon Property Group, Inc. (NYSE:SPG)

DRW Securities LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,699 shares of the real estate investment trust’s stock, valued at approximately $287,000.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Simon Property Group during the first quarter worth $26,000. Silvercrest Asset Management Group LLC acquired a new stake in shares of Simon Property Group in the 1st quarter worth about $208,000. B. Riley Wealth Advisors Inc. lifted its position in Simon Property Group by 16.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,980 shares of the real estate investment trust’s stock valued at $1,718,000 after acquiring an additional 1,574 shares in the last quarter. Tidal Investments LLC boosted its stake in Simon Property Group by 19.5% during the 1st quarter. Tidal Investments LLC now owns 12,849 shares of the real estate investment trust’s stock valued at $2,006,000 after purchasing an additional 2,099 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of Simon Property Group by 29.0% in the first quarter. iA Global Asset Management Inc. now owns 9,767 shares of the real estate investment trust’s stock worth $1,528,000 after purchasing an additional 2,195 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 0.2 %

Shares of SPG stock opened at $183.75 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $59.95 billion, a P/E ratio of 24.47, a PEG ratio of 10.51 and a beta of 1.74. The company has a 50 day moving average of $173.63 and a 200-day moving average of $160.88. Simon Property Group, Inc. has a 12-month low of $120.50 and a 12-month high of $186.00.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s dividend payout ratio is 109.19%.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several analyst reports. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial increased their target price 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. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Company 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.