Simon Property Group, Inc. (NYSE:SPG) Stake Raised by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 23,444.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,238 shares of the real estate investment trust’s stock after acquiring an additional 4,220 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Simon Property Group were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Simon Property Group by 617.5% in 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 in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the last quarter. International Assets Investment Management LLC raised its position 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 worth $150,780,000 after purchasing an additional 887,356 shares during the period. Mizuho Securities USA LLC raised its position 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 worth $111,247,000 after purchasing an additional 633,072 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted 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 purchasing an additional 489,519 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 0.9 %

SPG stock opened at $182.14 on Tuesday. The company has a 50 day moving average of $175.92 and a two-hundred day moving average of $162.93. The company has a market cap of $59.43 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $132.24 and a 12-month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.20 earnings per share. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.61%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 109.19%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPG. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. 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 research report on Monday, August 26th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $165.44.

About Simon Property Group

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.