Penserra Capital Management LLC Has $1.63 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Penserra Capital Management LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,646 shares of the real estate investment trust’s stock after purchasing an additional 1,413 shares during the period. Penserra Capital Management LLC’s holdings in Simon Property Group were worth $1,629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the second quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in Simon Property Group in the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group during the 2nd quarter valued at $27,000. RFP Financial Group LLC boosted its position in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Simon Property Group in the first quarter valued at $29,000. 93.01% of the stock is owned by institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 8.50% of the stock is owned by insiders.

Simon Property Group Stock Up 1.9 %

Shares of NYSE SPG opened at $183.48 on Wednesday. The stock has a market capitalization of $59.87 billion, a P/E ratio of 24.43, a PEG ratio of 10.57 and a beta of 1.74. The stock’s fifty day moving average is $173.24 and its 200 day moving average is $160.72. Simon Property Group, Inc. has a 52 week low of $119.92 and a 52 week high of $183.96. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

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

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 annualized dividend and a dividend yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPG shares. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank lifted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Mizuho upped 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Profile

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.