Raymond James Trust N.A. Buys 110 Shares of Simon Property Group, Inc. (NYSE:SPG)

Raymond James Trust N.A. raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,996 shares of the real estate investment trust’s stock after acquiring an additional 110 shares during the period. Raymond James Trust N.A.’s holdings in Simon Property Group were worth $1,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after buying an additional 993,694 shares during the period. International Assets Investment Management LLC increased its stake in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after buying an additional 887,356 shares during the period. Mizuho Securities USA LLC increased its stake in shares of Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares during the period. Strategic Financial Concepts LLC increased its stake in shares of Simon Property Group by 16,795.2% during the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after buying an additional 421,560 shares during the period. Finally, KBC Group NV increased its stake in shares of Simon Property Group by 250.7% during the third quarter. KBC Group NV now owns 325,704 shares of the real estate investment trust’s stock valued at $55,051,000 after buying an additional 232,840 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SPG. Scotiabank boosted their target price on 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 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. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Truist Financial upped 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. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Down 0.4 %

Simon Property Group stock opened at $181.14 on Monday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The business’s fifty day simple moving average is $172.55 and its two-hundred day simple moving average is $160.25. Simon Property Group, Inc. has a 12 month low of $119.92 and a 12 month high of $183.96. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 10.61 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $3.20 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.64%. This is an increase 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 109.19%.

Insiders Place Their Bets

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

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.