MML Investors Services LLC Raises Position in Simon Property Group, Inc. (NYSE:SPG)

MML Investors Services LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,739 shares of the real estate investment trust's stock after purchasing an additional 4,144 shares during the quarter. MML Investors Services LLC's holdings in Simon Property Group were worth $10,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the second quarter valued at $27,000. RFP Financial Group LLC lifted its stake in 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 valued at $28,000 after acquiring an additional 160 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the third quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $42,000. Finally, Eastern Bank purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $42,000. 93.01% of the stock is owned by institutional investors.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was purchased 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 in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company's stock.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $2.65 during trading on Wednesday, hitting $176.58. 1,776,959 shares of the company's stock were exchanged, compared to its average volume of 1,447,467. The business's 50-day simple moving average is $176.12 and its 200 day simple moving average is $163.15. The company has a market cap of $57.61 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $133.11 and a 52-week high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

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

Simon Property Group Increases Dividend

The company 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. This is a positive change 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 4.76%. Simon Property Group's dividend payout ratio (DPR) is presently 109.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler reiterated a "neutral" rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Mizuho boosted 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. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Finally, Evercore ISI upgraded Simon Property Group from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.