4,065 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Nabity Jensen Investment Management Inc

Nabity Jensen Investment Management Inc bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,065 shares of the real estate investment trust’s stock, valued at approximately $687,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after acquiring an additional 3,626 shares during the last quarter. Red Cedar Investment Management LLC raised its holdings in Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares during the last quarter. TTP Investments Inc. lifted its position in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares during the period. Forte Capital LLC ADV bought a new stake in shares of Simon Property Group in the 3rd quarter valued at $630,000. Finally, Radnor Capital Management LLC acquired a new stake in shares of Simon Property Group during the third quarter worth $1,602,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction on Monday, September 30th. The shares were 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 directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of SPG opened at $183.84 on Monday. The business’s fifty day moving average is $175.66 and its 200 day moving average is $162.66. Simon Property Group, Inc. has a 12-month low of $129.08 and a 12-month high of $186.00. 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 stock has a market cap of $59.98 billion, a P/E ratio of 24.48, a P/E/G ratio of 10.75 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 EPS. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.57%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is presently 109.19%.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.