Brookstone Capital Management Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Brookstone Capital Management increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 39.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,492 shares of the real estate investment trust’s stock after buying an additional 5,501 shares during the quarter. Brookstone Capital Management’s holdings in Simon Property Group were worth $3,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Simon Property Group by 66.1% in the 4th quarter. Cerity Partners LLC now owns 11,939 shares of the real estate investment trust’s stock valued at $1,703,000 after buying an additional 4,750 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Simon Property Group in the fourth quarter worth approximately $46,000. SVB Wealth LLC grew its position in Simon Property Group by 29.8% in the fourth quarter. SVB Wealth LLC now owns 5,331 shares of the real estate investment trust’s stock worth $760,000 after acquiring an additional 1,224 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Simon Property Group by 61.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 210 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Simon Property Group by 10.2% in the fourth quarter. Federated Hermes Inc. now owns 18,107 shares of the real estate investment trust’s stock valued at $2,583,000 after purchasing an additional 1,674 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SPG shares. Stifel Nicolaus raised their price objective on Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Argus increased their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Evercore ISI boosted their target price on Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research report on Tuesday, August 6th. Finally, Scotiabank raised their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.50.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 0.7 %

NYSE:SPG traded down $1.16 during midday trading on Friday, reaching $156.70. The company had a trading volume of 1,422,629 shares, compared to its average volume of 1,396,242. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $161.30. The firm has a market capitalization of $51.07 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 8.59 and a beta of 1.75. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock’s fifty day simple moving average is $151.23 and its 200-day simple moving average is $148.91.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 EPS. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.23%. This is a positive change 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 (DPR) is presently 101.91%.

Simon Property Group Company 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.