Dimensional Fund Advisors LP Has $701.46 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Dimensional Fund Advisors LP decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 0.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,621,019 shares of the real estate investment trust’s stock after selling 19,411 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Simon Property Group were worth $701,459,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SPG. Diligent Investors LLC raised its position in Simon Property Group by 0.5% in the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares during the last quarter. Augustine Asset Management Inc. raised its stake in shares of Simon Property Group by 3.8% during the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares during the last quarter. TIAA Trust National Association grew its stake in shares of Simon Property Group by 3.7% in the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 69 shares during the last quarter. Inspire Advisors LLC increased its holdings in Simon Property Group by 1.7% in the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after purchasing an additional 70 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Simon Property Group by 26.9% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 344 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Evercore ISI increased their target price on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $161.44.

Simon Property Group Stock Performance

Shares of SPG opened at $164.02 on Monday. The firm has a market capitalization of $53.48 billion, a P/E ratio of 20.89, a P/E/G ratio of 8.97 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $169.18. The stock has a 50 day moving average price of $157.48 and a two-hundred day moving average price of $151.62. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $2.88 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 5.00%. Simon Property Group’s payout ratio is 104.46%.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.