Catalina Capital Group LLC Purchases 180 Shares of Simon Property Group, Inc. (NYSE:SPG)

Catalina Capital Group LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,986 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the quarter. Catalina Capital Group LLC’s holdings in Simon Property Group were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPG. International Assets Investment Management LLC grew its stake in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares in the last quarter. Vanguard Group Inc. boosted its position in Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Simon Property Group by 16,795.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after acquiring an additional 421,560 shares in the last quarter. Castle Hook Partners LP boosted its position in Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after acquiring an additional 310,207 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after acquiring an additional 261,430 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPG. Scotiabank increased 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. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Evercore ISI upgraded 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 report on Monday, September 16th. Finally, Truist Financial raised their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

Shares of SPG opened at $173.61 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $113.40 and a fifty-two week high of $178.71. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.04 and a current ratio of 2.00. The company has a market capitalization of $56.60 billion, a P/E ratio of 23.12, a P/E/G ratio of 9.79 and a beta of 1.74. The business’s 50-day moving average is $168.89 and its two-hundred day moving average is $157.07.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $3.20 earnings per share. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.83 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.84%. 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%.

Insider Buying and Selling

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This 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. 8.60% of the stock is currently owned by insiders.

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.