Nabity Jensen Investment Management Inc Makes New $687,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Nabity Jensen Investment Management Inc acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 4,065 shares of the real estate investment trust's stock, valued at approximately $687,000.

A number of other hedge funds have also recently bought and sold shares of SPG. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the second quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. RFP Financial Group LLC lifted its holdings in Simon Property Group by 727.3% in the second 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 during the period. Trivant Custom Portfolio Group LLC bought a new position in Simon Property Group in the third quarter valued at approximately $42,000. Finally, Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth $42,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.9 %

Shares of SPG stock traded down $1.73 during mid-day trading on Monday, hitting $182.11. The company's stock had a trading volume of 1,638,250 shares, compared to its average volume of 1,444,068. Simon Property Group, Inc. has a 52 week low of $132.24 and a 52 week 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 $59.42 billion, a PE ratio of 24.48, a P/E/G ratio of 10.75 and a beta of 1.75. The company's fifty day simple moving average is $175.66 and its 200-day simple moving average is $162.66.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. Simon Property Group's quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is presently 109.19%.

Insider Activity

In related news, Director Allan B. Hubbard bought 370 shares of the company's stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company's stock, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Piper Sandler restated a "neutral" rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $165.44.

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.