Benjamin Edwards Inc. Acquires 3,897 Shares of Simon Property Group, Inc. (NYSE:SPG)

Benjamin Edwards Inc. increased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 389.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,897 shares of the real estate investment trust's stock after purchasing an additional 3,897 shares during the quarter. Benjamin Edwards Inc.'s holdings in Simon Property Group were worth $828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group during the second quarter worth $27,000. RFP Financial Group LLC lifted its holdings in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 160 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. Finally, Trivant Custom Portfolio Group LLC bought a new stake in shares of Simon Property Group in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Trading Up 1.1 %

Simon Property Group stock traded up $1.96 during mid-day trading on Friday, hitting $183.84. The stock had a trading volume of 1,419,419 shares, compared to its average volume of 1,375,120. The stock has a 50-day simple moving average of $175.66 and a two-hundred day simple moving average of $162.55. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $59.98 billion, a PE ratio of 24.48, a P/E/G ratio of 10.60 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $129.08 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.20 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. 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 4.57%. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio is 109.19%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus reissued a "hold" rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Evercore ISI raised Simon Property Group from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday. Scotiabank lifted their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Finally, Piper Sandler restated a "neutral" rating and set a $175.00 target price (down previously 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $165.44.

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.