Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 16.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 92,207 shares of the real estate investment trust’s stock after buying an additional 12,990 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Simon Property Group were worth $15,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. RFP Financial Group LLC raised its holdings in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Simon Property Group in the 2nd quarter worth about $30,000. Finally, Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank upped 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. Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. 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 report on Tuesday, September 3rd. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $183.60 on Monday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business has a 50 day simple moving average of $174.30 and a 200-day simple moving average of $161.46. The firm has a market capitalization of $59.91 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 10.72 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $122.50 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $3.20 earnings per share. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. Simon Property Group’s dividend payout ratio is 109.19%.

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.