Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Increased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.2% during the 3rd quarter, Holdings Channel reports. The fund owned 178,867 shares of the real estate investment trust’s stock after purchasing an additional 8,791 shares during the period. QRG Capital Management Inc.’s holdings in Simon Property Group were worth $30,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in Simon Property Group during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group in the 2nd quarter worth $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth $27,000. Finally, RFP Financial Group LLC raised its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 160 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPG. Scotiabank boosted their price objective 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 boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the 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 purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 1.4 %

Shares of SPG stock traded up $2.41 on Monday, reaching $170.11. 35,612 shares of the company’s stock traded hands, compared to its average volume of 1,438,655. Simon Property Group, Inc. has a 12-month low of $113.40 and a 12-month high of $177.08. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $55.46 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 9.61 and a beta of 1.74. The business’s 50 day moving average price is $168.55 and its two-hundred day moving average price is $156.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm posted $2.88 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.94%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 104.19%.

About Simon Property Group

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.