Wilmington Savings Fund Society FSB Makes New $834,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,932 shares of the real estate investment trust's stock, valued at approximately $834,000.

Several other institutional investors have also recently modified their holdings of SPG. Aptus Capital Advisors LLC grew its position in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock worth $273,000 after purchasing an additional 61 shares during the period. Inspire Advisors LLC raised its position in Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust's stock valued at $696,000 after acquiring an additional 65 shares in the last quarter. Groupama Asset Managment lifted its holdings in Simon Property Group by 0.9% in the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust's stock valued at $1,305,000 after acquiring an additional 67 shares during the period. Augustine Asset Management Inc. boosted its position in Simon Property Group by 3.8% in the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust's stock worth $282,000 after purchasing an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust's stock worth $1,044,000 after purchasing an additional 68 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Allan B. Hubbard purchased 370 shares of the firm's stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $2.33 during trading hours on Monday, reaching $181.93. 1,480,939 shares of the company's stock were exchanged, compared to its average volume of 1,448,006. The business has a fifty day moving average of $176.65 and a two-hundred day moving average of $163.79. The company has a market capitalization of $59.36 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00.

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 the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the company posted $3.20 EPS. The firm's revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.62%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group's payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPG. Stifel Nicolaus reissued a "hold" rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Piper Sandler restated a "neutral" rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Evercore ISI raised Simon Property Group from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank increased their target price 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, Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. 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 an average rating of "Hold" and a consensus price target 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.