B. Metzler seel. Sohn & Co. Holding AG Invests $1.59 Million in Simon Property Group, Inc. (NYSE:SPG)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,409 shares of the real estate investment trust’s stock, valued at approximately $1,590,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aptus Capital Advisors LLC boosted its holdings in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 61 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the last quarter. Diligent Investors LLC boosted its holdings in shares of Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. boosted its holdings in shares of Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 68 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.4 %

Shares of NYSE SPG opened at $181.14 on Friday. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 10.57 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52-week low of $119.92 and a 52-week high of $183.96. The business’s 50 day moving average is $172.55 and its two-hundred day moving average is $160.08.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $3.20 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently 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 bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.