Mercer Global Advisors Inc. ADV Acquires 1,867 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mercer Global Advisors Inc. ADV raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,317 shares of the real estate investment trust’s stock after buying an additional 1,867 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Simon Property Group were worth $16,594,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in Simon Property Group during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group in the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group during the second quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Simon Property Group

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

Simon Property Group Price Performance

Shares of NYSE SPG opened at $164.35 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market cap of $53.57 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 8.97 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The firm’s 50-day simple moving average is $158.49 and its 200 day simple moving average is $151.92.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 EPS. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $2.05 per share. 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 4.99%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s payout ratio is currently 104.46%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPG shares. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho lifted their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a report on Monday. Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.78.

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.