Xponance Inc. Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Xponance Inc. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,067 shares of the real estate investment trust's stock after acquiring an additional 8,476 shares during the quarter. Xponance Inc.'s holdings in Simon Property Group were worth $13,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPG. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter valued at $31,000. Continuum Advisory LLC lifted its holdings 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 purchasing an additional 156 shares during the last quarter. TCTC Holdings LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $34,000. Colonial Trust Co SC lifted 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 valued at $36,000 after purchasing an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings 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 purchasing an additional 95 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Simon Property Group stock traded down $1.76 during midday trading on Friday, reaching $161.69. The company's stock had a trading volume of 1,112,287 shares, compared to its average volume of 1,548,900. The stock has a market cap of $52.78 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 9.02 and a beta of 1.43. 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 price of $161.31 and a 200-day moving average price of $166.08. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly 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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.56 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

Insider Buying and Selling

In other Simon Property Group news, Director Daniel C. Smith purchased 378 shares of the company's stock in a transaction on Monday, June 30th. The shares were purchased 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 owned 31,998 shares in the company, valued at $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry C. Glasscock bought 396 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly 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 disclosure for this purchase can be found here. Insiders acquired 2,386 shares of company stock valued at $380,066 over the last 90 days. 8.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SPG shares. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. 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. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Finally, Scotiabank lifted their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $178.50.

Simon Property Group Company 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.