Y Intercept Hong Kong Ltd Purchases New Holdings in Simon Property Group, Inc. (NYSE:SPG)

Y Intercept Hong Kong Ltd bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,962 shares of the real estate investment trust's stock, valued at approximately $3,712,000.

A number of other institutional investors also recently bought and sold shares of the company. MML Investors Services LLC lifted its holdings in Simon Property Group by 7.1% in the third quarter. MML Investors Services LLC now owns 62,739 shares of the real estate investment trust's stock valued at $10,604,000 after acquiring an additional 4,144 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Simon Property Group by 13.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust's stock valued at $1,714,000 after purchasing an additional 1,192 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Simon Property Group by 5.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 10,860 shares of the real estate investment trust's stock valued at $1,836,000 after purchasing an additional 586 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Simon Property Group by 28.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust's stock worth $313,000 after purchasing an additional 413 shares during the period. Finally, Insigneo Advisory Services LLC increased its position in shares of Simon Property Group by 50.8% during the 3rd quarter. Insigneo Advisory Services LLC now owns 2,593 shares of the real estate investment trust's stock worth $438,000 after purchasing an additional 874 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard acquired 370 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Evercore ISI raised shares of Simon Property Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Stifel Nicolaus restated a "hold" rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Truist Financial boosted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $165.44.

Simon Property Group Stock Down 0.9 %

Shares of NYSE SPG traded down $1.71 during midday trading on Monday, hitting $182.14. 1,638,393 shares of the company's stock were exchanged, compared to its average volume of 1,444,068. The firm's fifty day simple moving average is $175.92 and its 200-day simple moving average is $162.93. The company has a market cap of $59.43 billion, a PE ratio of 24.25, a P/E/G ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $132.24 and a twelve month 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 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 company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.20 earnings per share. Research analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio is currently 109.19%.

Simon Property Group Company 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.