Hilltop Holdings Inc. Grows Stake in Simon Property Group, Inc. (NYSE:SPG)

Hilltop Holdings Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 113.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,135 shares of the real estate investment trust’s stock after buying an additional 2,733 shares during the quarter. Hilltop Holdings Inc.’s holdings in Simon Property Group were worth $868,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after buying an additional 993,694 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after buying an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on 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 directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.5 %

Shares of Simon Property Group stock opened at $181.51 on Thursday. The firm has a 50-day simple moving average of $175.03 and a two-hundred day simple moving average of $162.05. The company has a market cap of $59.22 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 10.59 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $129.08 and a fifty-two week high of $186.00. 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 (NYSE:SPG) last issued its quarterly earnings data 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 firm had revenue of $1.48 billion during 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 revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.20 EPS. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPG. Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Scotiabank upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $165.44.

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.