Los Angeles Capital Management LLC Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC increased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,326,445 shares of the real estate investment trust's stock after purchasing an additional 219,915 shares during the period. Simon Property Group makes up approximately 1.0% of Los Angeles Capital Management LLC's holdings, making the stock its 21st biggest position. Los Angeles Capital Management LLC owned 0.41% of Simon Property Group worth $220,296,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the period. Caisse Des Depots ET Consignations bought a new position in Simon Property Group during the 4th quarter valued at about $31,000. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares during the period. Colonial Trust Co SC lifted its stake in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 57 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 95 shares during the period. Institutional investors own 93.01% of the company's stock.

Insider Activity

In other news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 396 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,386 shares of company stock valued at $380,066. Company insiders own 8.60% of the company's stock.

Simon Property Group Trading Up 0.0%

Shares of NYSE:SPG traded up $0.07 on Wednesday, hitting $165.64. 359,436 shares of the company's stock were exchanged, compared to its average volume of 1,542,330. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 11.04 and a beta of 1.43. The business's 50 day simple moving average is $161.32 and its two-hundred day simple moving average is $165.67. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.07%. Simon Property Group's dividend payout ratio is currently 133.76%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPG. Scotiabank increased their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. cut 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 report on Thursday, May 22nd. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $182.73.

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.