Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Smead Capital Management Inc.

Smead Capital Management Inc. raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,620,355 shares of the real estate investment trust’s stock after acquiring an additional 88,378 shares during the period. Simon Property Group accounts for approximately 6.3% of Smead Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Smead Capital Management Inc.’s holdings in Simon Property Group were worth $442,892,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Aptus Capital Advisors LLC boosted its stake in Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of 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 worth $696,000 after buying an additional 65 shares during the period. Diligent Investors LLC boosted its stake in shares of Simon Property Group by 0.5% during the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after buying an additional 68 shares during the period. Augustine Asset Management Inc. boosted its stake in shares of Simon Property Group by 3.8% during the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 68 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Simon Property Group by 1.1% during the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several recent research reports. Truist Financial increased their target price 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. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Evercore ISI raised shares of 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 report on Monday, September 16th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Activity

In other news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $180.85 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market cap of $59.01 billion, a P/E ratio of 24.08, a P/E/G ratio of 10.52 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $119.92 and a fifty-two week high of $182.84. The firm’s 50 day moving average is $171.15 and its two-hundred day moving average is $159.25.

Simon Property Group (NYSE:SPG) last issued its 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business posted $3.20 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts expect that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date 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 (DPR) 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.