Farther Finance Advisors LLC Has $470,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Farther Finance Advisors LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 46.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,781 shares of the real estate investment trust’s stock after purchasing an additional 883 shares during the quarter. Farther Finance Advisors LLC’s holdings in Simon Property Group were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SPG. International Assets Investment Management LLC raised its holdings in Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after acquiring an additional 887,356 shares during the period. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Simon Property Group by 16,795.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after purchasing an additional 421,560 shares during the last quarter. Castle Hook Partners LP boosted its stake in Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Simon Property Group by 5,778.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after buying an additional 261,430 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Down 0.4 %

Shares of Simon Property Group stock opened at $173.61 on Thursday. The stock has a market capitalization of $56.60 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 9.79 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $113.40 and a 12-month high of $178.71. The company has a quick ratio of 2.04, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a 50-day simple moving average of $168.89 and a 200 day simple moving average of $157.07.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.20 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.83 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 109.19%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.