HUB Investment Partners LLC Has $2.40 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

HUB Investment Partners LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,930 shares of the real estate investment trust’s stock after buying an additional 199 shares during the period. HUB Investment Partners LLC’s holdings in Simon Property Group were worth $2,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SPG. Prospera Financial Services Inc boosted its holdings in Simon Property Group by 61.8% during the third quarter. Prospera Financial Services Inc now owns 17,858 shares of the real estate investment trust’s stock valued at $3,019,000 after purchasing an additional 6,819 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Simon Property Group by 3.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,554 shares of the real estate investment trust’s stock valued at $601,000 after acquiring an additional 120 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Simon Property Group in the 3rd quarter valued at $1,590,000. PNC Financial Services Group Inc. increased its position in shares of Simon Property Group by 51.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 335,906 shares of the real estate investment trust’s stock valued at $56,775,000 after buying an additional 114,088 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Simon Property Group by 126.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust’s stock valued at $1,568,000 after buying an additional 5,177 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SPG shares. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Finally, Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Down 0.3 %

Simon Property Group stock opened at $164.36 on Friday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The firm has a 50 day moving average price of $176.29 and a 200-day moving average price of $174.33. The company has a market capitalization of $53.63 billion, a P/E ratio of 22.64, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

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.