Raymond James Trust N.A. Buys 110 Shares of Simon Property Group, Inc. (NYSE:SPG)

Raymond James Trust N.A. raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,996 shares of the real estate investment trust’s stock after acquiring an additional 110 shares during the period. Raymond James Trust N.A.’s holdings in Simon Property Group were worth $1,182,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Simon Property Group during the 2nd quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at $27,000. RFP Financial Group LLC increased its position in shares of Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Simon Property Group during the 1st quarter valued at $29,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SPG shares. Truist Financial raised their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Down 0.4 %

SPG stock opened at $181.14 on Monday. 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 firm has a market capitalization of $59.10 billion, a PE ratio of 24.12, a PEG ratio of 10.61 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96. The stock has a 50-day simple moving average of $172.55 and a two-hundred day simple moving average of $160.25.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion for 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%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.20 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 12.79 EPS 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 issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. 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. Simon Property Group’s payout ratio is presently 109.19%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.