Ballentine Partners LLC Acquires 75 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ballentine Partners LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,702 shares of the real estate investment trust’s stock after acquiring an additional 75 shares during the quarter. Ballentine Partners LLC’s holdings in Simon Property Group were worth $795,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SPG. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group during the 2nd quarter valued at $27,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.7 %

NYSE SPG opened at $170.52 on Friday. The company has a market cap of $55.58 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $104.05 and a twelve month high of $177.08. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The business’s fifty day moving average is $167.66 and its 200 day moving average is $155.42.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 earnings per share. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 104.46%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SPG has been the subject of a number of analyst reports. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial increased their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus restated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.