First Dallas Securities Inc. Grows Position in Simon Property Group, Inc. (NYSE:SPG)

First Dallas Securities Inc. raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,600 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the period. First Dallas Securities Inc.’s holdings in Simon Property Group were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diligent Investors LLC boosted its holdings in Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after buying an additional 68 shares during the period. Augustine Asset Management Inc. boosted its stake in shares of Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 68 shares during the period. TIAA Trust National Association grew its position in shares of Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 69 shares in the last quarter. Inspire Advisors LLC raised its stake in Simon Property Group by 1.7% during the 1st quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after purchasing an additional 70 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in Simon Property Group by 26.9% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 344 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 73 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SPG shares. Scotiabank increased their price objective 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. Mizuho lifted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. 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 research note on Wednesday, August 28th. Stifel Nicolaus raised their price target on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Argus lifted their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.28.

Simon Property Group Trading Up 0.0 %

NYSE SPG traded up $0.02 during trading hours on Thursday, hitting $165.10. 116,529 shares of the company were exchanged, compared to its average volume of 1,445,217. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $169.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a 50-day moving average price of $155.33 and a 200 day moving average price of $150.94. The stock has a market cap of $53.81 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 9.17 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its 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 company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $2.88 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.97%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is currently 104.46%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the acquisition, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.