4,531 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,531 shares of the real estate investment trust’s stock, valued at approximately $759,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC increased its holdings in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by company insiders.

Simon Property Group Trading Down 1.7 %

Shares of NYSE:SPG opened at $170.52 on Monday. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08. The business’s fifty day simple moving average is $167.66 and its 200-day simple moving average is $155.52. The company has a market capitalization of $55.58 billion, a PE ratio of 21.72, a P/E/G ratio of 9.58 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Analyst Ratings Changes

Several research firms have commented on SPG. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho raised their price objective 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 restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.