Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Sheaff Brock Investment Advisors LLC

by · The Cerbat Gem

Sheaff Brock Investment Advisors LLC increased its position in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,296 shares of the real estate investment trust’s stock after purchasing an additional 530 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Simon Property Group were worth $2,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bleakley Financial Group LLC lifted its holdings in Simon Property Group by 1.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock valued at $944,000 after acquiring an additional 78 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Simon Property Group during the 1st quarter worth about $731,000. HBK Sorce Advisory LLC bought a new stake in Simon Property Group in the 1st quarter valued at $392,000. Orion Portfolio Solutions LLC lifted its position in shares of Simon Property Group by 1.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,338 shares of the real estate investment trust’s stock worth $1,461,000 after buying an additional 121 shares during the period. Finally, Banco Santander S.A. bought a new stake in Simon Property Group during the first quarter worth about $443,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the topic of a number of recent research reports. Scotiabank raised 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 note on Monday, August 26th. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Truist Financial increased their target price 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. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $162.78.

Get Our Latest Analysis on Simon Property Group

Simon Property Group Stock Performance

Shares of SPG opened at $178.31 on Friday. Simon Property Group, Inc. has a 12 month low of $119.71 and a 12 month high of $182.84. The stock 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. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20. The firm has a fifty day simple moving average of $170.18 and a 200 day simple moving average of $158.33.

Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.20 earnings per share. Research analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.71%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is 109.19%.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Profile

(Free Report)

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.

Further Reading

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