MidWestOne Financial Group Inc. Has $991,000 Position in Simon Property Group, Inc. (NYSE:SPG)

MidWestOne Financial Group Inc. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,866 shares of the real estate investment trust’s stock after purchasing an additional 322 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Simon Property Group were worth $991,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Simon Property Group by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after purchasing an additional 3,626 shares during the period. Red Cedar Investment Management LLC grew its position in Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the period. TTP Investments Inc. grew its position in Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares during the period. Forte Capital LLC ADV acquired a new stake in Simon Property Group in the 3rd quarter valued at $630,000. Finally, Radnor Capital Management LLC bought a new position in Simon Property Group during the 3rd quarter valued at $1,602,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.6 %

SPG stock opened at $179.19 on Wednesday. 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 capitalization of $58.47 billion, a PE ratio of 23.86, a PEG ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $132.24 and a twelve month high of $186.00. The stock has a 50-day simple moving average of $175.92 and a two-hundred day simple moving average of $162.93.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $3.20 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group, Inc. will post 12.76 EPS 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 given a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.69%. Simon Property Group’s payout ratio is presently 109.19%.

Insider Buying and Selling

In other news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up 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 stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price of $165.44.

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.