Del Sette Capital Management LLC Acquires 1,684 Shares of Simon Property Group, Inc. (NYSE:SPG)

Del Sette Capital Management LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,747 shares of the real estate investment trust's stock after acquiring an additional 1,684 shares during the period. Simon Property Group comprises approximately 1.8% of Del Sette Capital Management LLC's portfolio, making the stock its 22nd largest position. Del Sette Capital Management LLC's holdings in Simon Property Group were worth $2,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group during the 4th quarter worth about $31,000. Continuum Advisory LLC boosted 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 worth $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC raised its holdings 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 worth $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Daniel C. Smith bought 378 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $60,211.62. Following the completion of the purchase, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. The trade was a 1.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $39,185.34. Following the acquisition, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,386 shares of company stock worth $380,066. 8.60% of the stock is owned by company insiders.

Simon Property Group Price Performance

Shares of SPG traded down $0.03 during mid-day trading on Friday, hitting $162.70. 949,875 shares of the company traded hands, compared to its average volume of 1,547,391. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The business has a 50-day moving average of $161.32 and a 200 day moving average of $165.72. The stock has a market capitalization of $53.11 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 10.98 and a beta of 1.43.

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

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday. They issued a "buy" rating and a $225.00 target price on the stock. 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. Finally, Barclays started coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $182.73.

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.