Foundations Investment Advisors LLC Purchases Shares of 31,479 Simon Property Group, Inc. (NYSE:SPG)

Foundations Investment Advisors LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,479 shares of the real estate investment trust’s stock, valued at approximately $5,321,000.

Several other large investors have also recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group during the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC grew its position in shares of 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 in the last quarter. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on SPG. Mizuho increased their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $174.85 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $104.05 and a fifty-two week high of $177.08. 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 firm has a market capitalization of $57.01 billion, a P/E ratio of 22.22, a P/E/G ratio of 9.70 and a beta of 1.74. The company’s 50 day moving average price is $166.73 and its two-hundred day moving average price is $155.02.

Simon Property Group (NYSE:SPG) last issued 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 company had revenue of $1.32 billion during 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 EPS. On average, equities analysts forecast 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 declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $2.05 per share. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.69%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

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.