3,206 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Simon Property Group, purchasing 3,206 shares valued at approximately $532,000 during the first quarter.
• Simon Property Group recently increased its quarterly dividend to $2.15 per share, representing a 5.0% yield and an annualized payout of $8.60.
• Insider activity shows that directors have been purchasing shares, with Glyn Aeppel and Reuben S. Leibowitz adding a combined total of 756 shares at an average cost of $159.29 per share.

S Bank Fund Management Ltd bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,206 shares of the real estate investment trust's stock, valued at approximately $532,000.

Several other large investors also recently made changes to their positions in SPG. Park Square Financial Group LLC increased its position in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

SPG stock traded up $0.99 during trading hours on Friday, reaching $173.18. The stock had a trading volume of 1,581,618 shares, compared to its average volume of 1,494,117. The stock has a market capitalization of $56.53 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 11.59 and a beta of 1.48. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50-day simple moving average of $163.30 and a 200 day simple moving average of $164.70. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 earnings per share. Analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 129.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SPG shares. Mizuho lowered their price objective 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. JPMorgan Chase & Co. reduced their target price 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. Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Stifel Nicolaus set a $179.00 target price on shares of Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $182.64.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 396 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $63,078.84. Following the purchase, the director owned 43,185 shares in the company, valued at $6,878,938.65. The trade was a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,428 shares of company stock worth $387,271 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.