OneDigital Investment Advisors LLC Purchases 190 Shares of Simon Property Group, Inc. (NYSE:SPG)

OneDigital Investment Advisors LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,509 shares of the real estate investment trust’s stock after acquiring an additional 190 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Simon Property Group were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SPG. Orion Portfolio Solutions LLC increased its stake in Simon Property Group by 1.3% during the first quarter. Orion Portfolio Solutions LLC now owns 9,338 shares of the real estate investment trust’s stock worth $1,461,000 after acquiring an additional 121 shares during the last quarter. TIAA Trust National Association increased its position in shares of Simon Property Group by 3.7% during the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 69 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Simon Property Group during the 1st quarter valued at $33,000. Covestor Ltd lifted its position in Simon Property Group by 58.9% in the first quarter. Covestor Ltd now owns 259 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 96 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Simon Property Group by 1.5% during the first quarter. Bessemer Group Inc. now owns 879,942 shares of the real estate investment trust’s stock worth $137,701,000 after buying an additional 13,021 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Price Performance

Shares of SPG stock opened at $180.85 on Tuesday. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $182.84. The stock’s 50-day moving average is $171.15 and its 200 day moving average is $159.25. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The company has a market cap of $58.96 billion, a P/E ratio of 24.08, a PEG ratio of 10.52 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $3.20 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPG. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Mizuho boosted their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.