Alta Wealth Advisors LLC Purchases 198 Shares of Simon Property Group, Inc. (NYSE:SPG)

Alta Wealth Advisors LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,304 shares of the real estate investment trust’s stock after purchasing an additional 198 shares during the period. Alta Wealth Advisors LLC’s holdings in Simon Property Group were worth $727,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SPG. Wellington Management Group LLP grew its holdings in shares of Simon Property Group by 61.5% during the fourth quarter. Wellington Management Group LLP now owns 490,187 shares of the real estate investment trust’s stock valued at $69,920,000 after buying an additional 186,740 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 11.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 4,524 shares of the real estate investment trust’s stock worth $708,000 after purchasing an additional 481 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Simon Property Group by 4.5% in the first quarter. Park Avenue Securities LLC now owns 14,186 shares of the real estate investment trust’s stock worth $2,220,000 after purchasing an additional 617 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Simon Property Group by 8.1% in the first quarter. Ballentine Partners LLC now owns 4,238 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 316 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Simon Property Group during the first quarter valued at approximately $4,107,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 1.5 %

Simon Property Group stock opened at $176.92 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 1-year low of $104.05 and a 1-year high of $177.08. The firm has a market capitalization of $57.68 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 9.41 and a beta of 1.74. The firm has a 50 day simple moving average of $165.93 and a 200 day simple moving average of $154.62.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business earned $2.88 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 104.19%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of analyst reports. Mizuho increased their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. 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 research report on Tuesday, September 3rd. Truist Financial boosted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Scotiabank boosted 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $162.78.

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.