Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Vanderbilt University

Vanderbilt University raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 20.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,440 shares of the real estate investment trust’s stock after buying an additional 5,898 shares during the quarter. Simon Property Group comprises 1.1% of Vanderbilt University’s portfolio, making the stock its 12th largest position. Vanderbilt University’s holdings in Simon Property Group were worth $5,821,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPG. Inspire Advisors LLC increased its holdings in shares of Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after acquiring an additional 65 shares during the last quarter. Diligent Investors LLC lifted its position in shares of Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after buying an additional 68 shares during the last quarter. Augustine Asset Management Inc. boosted its holdings in shares of Simon Property Group by 3.8% in the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares during the period. Bleakley Financial Group LLC grew its position in shares of Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 69 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on SPG shares. Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank upped their price objective 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. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Price Performance

Simon Property Group stock traded up $2.99 during trading hours on Monday, hitting $173.51. 120,056 shares of the company traded hands, compared to its average volume of 1,444,235. The firm’s 50-day simple moving average is $167.66 and its two-hundred day simple moving average is $155.52. The firm has a market cap of $56.57 billion, a P/E ratio of 22.08, a P/E/G ratio of 9.35 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $104.24 and a 1-year high of $177.08. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. As a group, 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 announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $2.05 per share. The ex-dividend date was Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.73%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.19%.

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.