Simon Property Group, Inc. (NYSE:SPG) Holdings Boosted by KBC Group NV

KBC Group NV raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 250.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 325,704 shares of the real estate investment trust’s stock after acquiring an additional 232,840 shares during the period. KBC Group NV’s holdings in Simon Property Group were worth $55,051,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SPG. Wealth Enhancement Advisory Services LLC raised its position in Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after buying an additional 3,626 shares during the period. Red Cedar Investment Management LLC increased its holdings in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the period. M&G Plc acquired a new position in shares of Simon Property Group in the 1st quarter valued at about $4,654,000. TTP Investments Inc. lifted its position in shares of Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares in the last quarter. Finally, Forte Capital LLC ADV acquired a new stake in shares of Simon Property Group during the third quarter worth approximately $630,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.5 %

Simon Property Group stock opened at $178.31 on Friday. Simon Property Group, Inc. has a one year low of $119.71 and a one year high of $182.84. The company’s fifty day moving average price is $170.18 and its two-hundred day moving average price is $158.33. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 10.45 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued 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). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $3.20 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share 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 $2.10 dividend. 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 dividend on an annualized basis and a dividend yield of 4.71%. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SPG shares. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho boosted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Truist Financial raised their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven investment 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, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Company Profile

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.