BSW Wealth Partners Purchases Shares of 1,468 Simon Property Group, Inc. (NYSE:SPG)

BSW Wealth Partners purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,468 shares of the real estate investment trust’s stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Simon Property Group by 11.7% during the third quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock worth $26,649,000 after acquiring an additional 16,032 shares in the last quarter. Optas LLC increased its position in shares of Simon Property Group by 31.9% during the third quarter. Optas LLC now owns 1,765 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 427 shares during the period. Farther Finance Advisors LLC lifted its stake in Simon Property Group by 46.5% during the third quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 883 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of Simon Property Group by 12.6% in the 3rd quarter. Capital Advisors Inc. OK now owns 313,477 shares of the real estate investment trust’s stock valued at $52,984,000 after purchasing an additional 35,155 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC bought a new position in Simon Property Group in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.8 %

Shares of Simon Property Group stock opened at $167.70 on Monday. Simon Property Group, Inc. has a 52-week low of $113.40 and a 52-week high of $177.08. The firm has a market cap of $54.68 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 9.61 and a beta of 1.74. The company’s 50-day simple moving average is $168.55 and its 200-day simple moving average is $156.50. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business earned $2.88 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.01%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 104.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPG shares. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank lifted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Truist Financial increased 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling

In related 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, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

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.