Holocene Advisors LP Invests $1.90 Million in Simon Property Group, Inc. (NYSE:SPG)

Holocene Advisors LP purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,255 shares of the real estate investment trust's stock, valued at approximately $1,902,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in 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 second quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the third quarter worth about $30,000. RFP Financial Group LLC grew its position in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 160 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC bought a new position in Simon Property Group in the 3rd quarter valued at about $42,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SPG. Piper Sandler reaffirmed a "neutral" rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reissued a "hold" rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Finally, Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Seven 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 has a consensus rating of "Hold" and an average target price of $165.44.

Simon Property Group Trading Up 1.1 %

Shares of NYSE:SPG 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. Simon Property Group, Inc. has a 12-month low of $129.08 and a 12-month high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $59.98 billion, a PE ratio of 24.48, a P/E/G ratio of 10.60 and a beta of 1.75. The company's 50 day moving average is $175.66 and its 200-day moving average is $162.55.

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 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 analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.20 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group's dividend payout ratio is currently 109.19%.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

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.