Summit Trail Advisors LLC Boosts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Summit Trail Advisors LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,442 shares of the real estate investment trust’s stock after purchasing an additional 718 shares during the period. Summit Trail Advisors LLC’s holdings in Simon Property Group were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the first quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the second quarter valued at approximately $27,000. RFP Financial Group LLC increased its position in shares of Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 160 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $29,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Down 0.5 %

SPG opened at $180.16 on Tuesday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company’s 50 day simple moving average is $172.86 and its two-hundred day simple moving average is $160.47. The firm has a market capitalization of $58.78 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 10.57 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $183.96.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.20 EPS. Analysts expect that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This is a boost 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 4.66%. Simon Property Group’s payout ratio is presently 109.19%.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

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.