Stifel Financial Corp Has $62.37 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Stifel Financial Corp decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 369,014 shares of the real estate investment trust's stock after selling 24,985 shares during the period. Stifel Financial Corp owned 0.11% of Simon Property Group worth $62,370,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the second quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $30,000. RFP Financial Group LLC grew its position in shares of 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 purchasing an additional 160 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Stifel Nicolaus reissued 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. Scotiabank increased their price target on 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. Evercore ISI raised 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. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $165.44.

Insider Activity at Simon Property Group

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

Simon Property Group Price Performance

NYSE SPG traded up $1.96 on Friday, hitting $183.84. 1,419,419 shares of the company's stock were exchanged, compared to its average volume of 1,375,120. The stock has a 50-day moving average of $175.66 and a 200-day 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. Simon Property Group, Inc. has a 52 week low of $129.08 and a 52 week high of $186.00. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 10.60 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. Analysts expect that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

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

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.