9,479 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Radnor Capital Management LLC

Radnor Capital Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent filing with the SEC. The firm acquired 9,479 shares of the real estate investment trust’s stock, valued at approximately $1,602,000.

Other hedge funds have also recently bought and sold shares of the company. Norden Group LLC bought a new position in shares of Simon Property Group in the 1st quarter worth $375,000. Central Pacific Bank Trust Division bought a new position in Simon Property Group during the first quarter worth about $137,000. Envestnet Portfolio Solutions Inc. grew its holdings in Simon Property Group by 1.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 24,932 shares of the real estate investment trust’s stock worth $3,902,000 after purchasing an additional 431 shares during the period. AIA Group Ltd bought a new position in Simon Property Group during the first quarter worth about $2,014,000. Finally, Empowered Funds LLC boosted its holdings in shares of Simon Property Group by 3.7% during the first quarter. Empowered Funds LLC now owns 34,369 shares of the real estate investment trust’s stock worth $5,378,000 after acquiring an additional 1,219 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 1.3 %

Shares of SPG opened at $174.39 on Wednesday. The firm has a 50 day simple moving average of $168.77 and a two-hundred day simple moving average of $156.96. The company has a market cap of $56.86 billion, a P/E ratio of 23.22, a P/E/G ratio of 9.79 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. Simon Property Group, Inc. has a one year low of $113.40 and a one year high of $177.08.

Simon Property Group (NYSE:SPG) last announced its quarterly 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.20 earnings per share. Research analysts forecast that Simon Property Group, Inc. will post 12.83 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.82%. Simon Property Group’s dividend payout ratio is 109.19%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Mizuho boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $162.78.

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.