Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Del Sette Capital Management LLC

Del Sette Capital Management LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,583 shares of the real estate investment trust’s stock after buying an additional 218 shares during the period. Simon Property Group makes up approximately 1.7% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Del Sette Capital Management LLC’s holdings in Simon Property Group were worth $2,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPG. Vanguard Group Inc. boosted its holdings in shares of Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after acquiring an additional 672,941 shares during the last quarter. Boston Partners lifted its position in Simon Property Group by 4.2% during the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after purchasing an additional 92,648 shares during the period. Centersquare Investment Management LLC boosted its holdings in Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares during the last quarter. PGGM Investments grew its position in Simon Property Group by 1.9% during the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after purchasing an additional 23,186 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Simon Property Group by 6.7% during the 2nd quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock valued at $162,689,000 after buying an additional 67,513 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Mizuho lifted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Scotiabank increased 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 report on Monday, August 26th. Seven investment 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 company presently has a consensus rating of “Hold” and an average price target of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by company insiders.

Simon Property Group Trading Up 1.9 %

Shares of NYSE:SPG opened at $179.02 on Friday. The business’s 50 day moving average price is $169.33 and its 200-day moving average price is $157.46. Simon Property Group, Inc. has a 1 year low of $113.40 and a 1 year high of $179.46. The firm has a market capitalization of $58.37 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 10.44 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 (NYSE:SPG) last posted its quarterly earnings data 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 analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.20 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s 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.