ClearAlpha Technologies LP Has $923,000 Position in Simon Property Group, Inc. (NYSE:SPG)

ClearAlpha Technologies LP lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 10.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,458 shares of the real estate investment trust’s stock after acquiring an additional 522 shares during the period. ClearAlpha Technologies LP’s holdings in Simon Property Group were worth $923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burney Co. bought a new position in shares of Simon Property Group during the first quarter worth $210,000. Cetera Investment Advisers lifted its holdings in Simon Property Group by 145.4% during the first quarter. Cetera Investment Advisers now owns 62,605 shares of the real estate investment trust’s stock worth $9,797,000 after acquiring an additional 37,093 shares in the last quarter. Cetera Advisors LLC grew its stake in Simon Property Group by 210.5% in the first quarter. Cetera Advisors LLC now owns 19,936 shares of the real estate investment trust’s stock valued at $3,120,000 after acquiring an additional 13,515 shares during the period. GAMMA Investing LLC increased its holdings in shares of Simon Property Group by 30.5% in the second quarter. GAMMA Investing LLC now owns 3,812 shares of the real estate investment trust’s stock worth $579,000 after acquiring an additional 891 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Simon Property Group by 12.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,188 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 129 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE:SPG opened at $183.60 on Monday. The stock’s 50-day simple moving average is $174.30 and its 200 day simple moving average is $161.46. Simon Property Group, Inc. has a 52-week low of $122.50 and a 52-week high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $59.91 billion, a P/E ratio of 24.45, a P/E/G ratio of 10.72 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 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $3.20 earnings per share. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. 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 dividend payout ratio is presently 109.19%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPG. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. 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. Truist Financial increased their target price on 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 Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus 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.