Los Angeles Capital Management LLC Has $212.91 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 373.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,259,648 shares of the real estate investment trust’s stock after buying an additional 993,694 shares during the period. Simon Property Group accounts for approximately 0.9% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $212,906,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Inspire Advisors LLC lifted its position in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after buying an additional 65 shares during the last quarter. Diligent Investors LLC lifted its holdings in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. boosted its position in 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 purchasing an additional 68 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after purchasing an additional 68 shares during the last quarter. Finally, TIAA Trust National Association raised its position in shares of Simon Property Group by 3.7% in the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 69 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SPG shares. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $3.27 during mid-day trading on Friday, reaching $179.02. The company had a trading volume of 972,330 shares, compared to its average volume of 1,156,906. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 10.44 and a beta of 1.74. The business’s 50-day simple moving average is $169.33 and its 200 day simple moving average is $157.55. Simon Property Group, Inc. has a one year low of $113.40 and a one year high of $179.46. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.04 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.20 earnings per share. On average, research analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.69%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 109.19%.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.