2,132 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Alpha Paradigm Partners LLC

Alpha Paradigm Partners LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,132 shares of the real estate investment trust’s stock, valued at approximately $278,000.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Simon Property Group by 7.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,660 shares of the real estate investment trust’s stock worth $6,349,000 after purchasing an additional 3,302 shares during the period. Lido Advisors LLC boosted its position in Simon Property Group by 401.8% during the 2nd quarter. Lido Advisors LLC now owns 25,321 shares of the real estate investment trust’s stock worth $3,304,000 after purchasing an additional 20,275 shares during the period. Duff & Phelps Investment Management Co. boosted its position in Simon Property Group by 10.8% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 887,611 shares of the real estate investment trust’s stock worth $115,815,000 after purchasing an additional 86,620 shares during the period. Calamos Advisors LLC boosted its position in Simon Property Group by 29.3% during the 2nd quarter. Calamos Advisors LLC now owns 81,319 shares of the real estate investment trust’s stock worth $10,611,000 after purchasing an additional 18,426 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Simon Property Group by 308.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,465,848 shares of the real estate investment trust’s stock valued at $170,935,000 after buying an additional 1,107,033 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on SPG shares. Piper Sandler upped their price objective on shares of Simon Property Group from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, September 1st. Scotiabank upped their price objective on shares of Simon Property Group from $117.00 to $138.00 and gave the company a “sector perform” rating in a research report on Monday, June 28th. Bank of America raised shares of Simon Property Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $141.00 to $150.00 in a research report on Wednesday, August 4th. Truist upped their target price on shares of Simon Property Group from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Finally, BTIG Research upped their target price on shares of Simon Property Group from $125.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $137.83.

SPG opened at $137.15 on Thursday. The firm has a market cap of $45.07 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. Simon Property Group, Inc. has a fifty-two week low of $59.35 and a fifty-two week high of $137.56. The company’s 50-day moving average price is $132.51 and its 200 day moving average price is $127.36. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 7.16.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Sunday, August 1st. The real estate investment trust reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.81). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.13 billion. Simon Property Group had a return on equity of 43.97% and a net margin of 31.67%. Simon Property Group’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 10.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 9th were paid a $1.50 dividend. The ex-dividend date of this dividend was Wednesday, September 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.37%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.40. Simon Property Group’s dividend payout ratio (DPR) is presently 65.86%.

Simon Property Group Company Profile

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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