Hartford Investment Management Co. Has $3.26 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Hartford Investment Management Co. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.6% in the 3rd quarter, Holdings Channel reports. The firm owned 19,309 shares of the real estate investment trust’s stock after selling 1,591 shares during the quarter. Hartford Investment Management Co.’s holdings in Simon Property Group were worth $3,264,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SPG. Vanguard Group Inc. raised its stake in shares of Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of Simon Property Group by 16,795.2% in 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 purchasing an additional 421,560 shares during the period. Castle Hook Partners LP lifted its stake in shares of Simon Property Group by 182.0% in the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after buying an additional 310,207 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after buying an additional 261,430 shares during the period. Finally, National Bank of Canada FI raised its holdings in Simon Property Group by 121.6% in the 1st quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock worth $67,758,000 after acquiring an additional 251,679 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.6 %

Shares of Simon Property Group stock opened at $173.82 on Thursday. Simon Property Group, Inc. has a 52-week low of $104.05 and a 52-week high of $177.08. The firm has a market capitalization of $56.67 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 9.70 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $167.07 and its two-hundred day moving average price is $155.15.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.19%.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Mizuho raised their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $162.78.

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.