Larson Financial Group LLC Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Larson Financial Group LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,503 shares of the real estate investment trust’s stock after buying an additional 381 shares during the quarter. Larson Financial Group LLC’s holdings in Simon Property Group were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new stake in Simon Property Group during the first quarter worth approximately $26,000. Gamco Investors INC. ET AL acquired a new position in shares of Simon Property Group in the 1st quarter valued at $200,000. SVB Wealth LLC boosted its holdings in shares of Simon Property Group by 13.7% in the 1st quarter. SVB Wealth LLC now owns 6,064 shares of the real estate investment trust’s stock valued at $949,000 after buying an additional 733 shares in the last quarter. Ascent Group LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at $274,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in Simon Property Group during the 1st quarter worth $208,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $180.16 on Tuesday. The stock has a fifty day moving average price of $172.86 and a 200 day moving average price of $160.47. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $183.96. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $58.78 billion, a PE ratio of 23.99, a P/E/G ratio of 10.57 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $3.20 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend yield of 4.66%. This is an increase 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 109.19%.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho upped their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Truist Financial upped their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Company 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.