Vanderbilt University Grows Holdings in Simon Property Group, Inc. (NYSE:SPG)

Vanderbilt University lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,440 shares of the real estate investment trust’s stock after buying an additional 5,898 shares during the quarter. Simon Property Group makes up 1.1% of Vanderbilt University’s investment portfolio, making the stock its 12th largest position. Vanderbilt University’s holdings in Simon Property Group were worth $5,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SPG. Clearstead Trust LLC acquired a new position in Simon Property Group in the 1st quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group in the first quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new position in Simon Property Group during the second quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the 2nd quarter worth about $27,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Simon Property Group in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 1.8 %

Shares of NYSE SPG traded up $2.99 on Monday, hitting $173.51. The company had a trading volume of 120,056 shares, compared to its average volume of 1,444,235. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12-month low of $104.24 and a 12-month high of $177.08. The firm has a market capitalization of $56.57 billion, a P/E ratio of 22.08, a PEG ratio of 9.35 and a beta of 1.74. The business has a 50 day moving average of $167.66 and a two-hundred day moving average of $155.52.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $2.05 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 104.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPG shares. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho upped 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. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group 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.