DRW Securities LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

DRW Securities LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,699 shares of the real estate investment trust’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also modified their holdings of SPG. Aptus Capital Advisors LLC raised its stake in Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC lifted its stake in Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares during the last quarter. Diligent Investors LLC lifted its stake in Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. boosted its position in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Simon Property Group by 1.1% during the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 68 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Stock Up 0.2 %

Shares of NYSE SPG opened at $183.75 on Thursday. The company’s 50 day moving average price is $173.63 and its 200-day moving average price is $160.88. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a 52-week low of $120.50 and a 52-week high of $186.00. The company has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 10.51 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.20 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm 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 dividend of $2.10 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio is presently 109.19%.

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.