Blueshift Asset Management LLC Invests $376,000 in Simon Property Group, Inc. (NYSE:SPG)

Blueshift Asset Management LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the third quarter, HoldingsChannel reports. The fund bought 2,222 shares of the real estate investment trust’s stock, valued at approximately $376,000.

Other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Simon Property Group in the second quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. RFP Financial Group LLC grew its holdings 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 worth $28,000 after purchasing an additional 160 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Simon Property Group during the 1st quarter worth approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Simon Property Group in the second quarter valued at approximately $30,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.2 %

Shares of SPG opened at $183.75 on Friday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a one year low of $120.50 and a one year high of $186.00. The stock has a 50-day moving average price of $173.96 and a 200 day moving average price of $161.04. The company has a market capitalization of $59.95 billion, a P/E ratio of 24.47, a P/E/G ratio of 10.73 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $3.20 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.78 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. Stockholders 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 dividend yield of 4.57%. 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 dividend payout ratio is 109.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of 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. Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Mizuho boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

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.