Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.9% in the third quarter, Holdings Channel.com reports. The fund owned 44,816 shares of the real estate investment trust’s stock after acquiring an additional 5,809 shares during the quarter. Metis Global Partners LLC’s holdings in Simon Property Group were worth $7,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Boston Partners raised its position in shares of Simon Property Group by 4.2% in 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 buying an additional 92,648 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in shares of 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 worth $283,905,000 after buying an additional 78,866 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after acquiring an additional 25,519 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Simon Property Group by 373.6% during the 3rd 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 acquiring an additional 993,694 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.0 %

Shares of SPG opened at $181.01 on Thursday. The company’s 50-day moving average price is $170.18 and its 200 day moving average price is $158.33. Simon Property Group, Inc. has a 12-month low of $119.71 and a 12-month high of $182.84. 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 market cap of $59.02 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 10.40 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $3.20 earnings per share. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. 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 dividend payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Mizuho lifted their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Truist Financial lifted their target price 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $162.78.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

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.