CORDA Investment Management LLC. Buys 2,015 Shares of Simon Property Group, Inc. (NYSE:SPG)

CORDA Investment Management LLC. lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,681 shares of the real estate investment trust’s stock after buying an additional 2,015 shares during the period. Simon Property Group comprises about 2.0% of CORDA Investment Management LLC.’s portfolio, making the stock its 23rd biggest holding. CORDA Investment Management LLC. owned about 0.05% of Simon Property Group worth $23,053,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Simon Property Group by 45.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 274 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 85 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Simon Property Group by 3.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,456 shares of the real estate investment trust’s stock valued at $279,000 after purchasing an additional 92 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Simon Property Group by 39.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 357 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 101 shares in the last quarter. Lido Advisors LLC boosted its holdings in Simon Property Group by 2.1% in the first quarter. Lido Advisors LLC now owns 5,046 shares of the real estate investment trust’s stock worth $574,000 after acquiring an additional 104 shares in the last quarter. Finally, Kistler Tiffany Companies LLC boosted its holdings in Simon Property Group by 4.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,504 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 110 shares in the last quarter. 86.37% of the stock is owned by institutional investors.

SPG stock traded down $2.33 during mid-day trading on Monday, hitting $128.94. 53,436 shares of the stock were exchanged, compared to its average volume of 2,830,105. The company has a debt-to-equity ratio of 7.16, a current ratio of 1.82 and a quick ratio of 1.82. The business has a fifty day moving average price of $130.04 and a 200 day moving average price of $125.10. Simon Property Group, Inc. has a 12 month low of $59.35 and a 12 month high of $137.38. The stock has a market capitalization of $42.37 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.70 and a beta of 1.54.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Sunday, August 1st. The real estate investment trust reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.81). Simon Property Group had a return on equity of 43.97% and a net margin of 31.67%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Simon Property Group, Inc. will post 10.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 9th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, September 8th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.40. Simon Property Group’s payout ratio is currently 65.86%.

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Simon Property Group from $150.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, August 13th. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $132.00 in a research note on Monday, July 19th. Scotiabank increased their price objective on Simon Property Group from $117.00 to $138.00 and gave the stock a “sector perform” rating in a research note on Monday, June 28th. Piper Sandler increased their price objective on Simon Property Group from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 1st. Finally, Truist increased their price target on Simon Property Group from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Monday, August 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $134.71.

Simon Property Group Company Profile

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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