Los Angeles Capital Management LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,326,445 shares of the real estate investment trust's stock after acquiring an additional 219,915 shares during the quarter. Simon Property Group accounts for approximately 1.0% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Los Angeles Capital Management LLC owned 0.41% of Simon Property Group worth $220,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SPG. Farther Finance Advisors LLC grew its holdings in Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC raised its holdings in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after acquiring an additional 509 shares during the period. Brighton Jones LLC bought a new stake in Simon Property Group during the 4th quarter valued at $295,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Simon Property Group by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares during the period. Finally, USA Financial Formulas bought a new stake in Simon Property Group during the 1st quarter valued at $717,000. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPG. Mizuho cut their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Scotiabank lifted their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $182.73.

Simon Property Group Trading Up 0.8%

Shares of NYSE SPG traded up $1.27 during trading hours on Tuesday, hitting $165.03. The company's stock had a trading volume of 752,483 shares, compared to its average volume of 1,544,289. The business has a 50-day simple moving average of $161.32 and a 200-day simple moving average of $165.67. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $53.87 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 10.98 and a beta of 1.43. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $3.56 EPS. Simon Property Group's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a $2.10 dividend. The ex-dividend date was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. Simon Property Group's dividend payout ratio is presently 133.76%.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock bought 396 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the purchase, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glyn Aeppel acquired 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the acquisition, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock valued at $380,066 in the last quarter. 8.66% of the stock is owned by corporate 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.