Rockefeller Capital Management L.P. Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Rockefeller Capital Management L.P. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,207 shares of the real estate investment trust’s stock after buying an additional 12,990 shares during the period. Rockefeller Capital Management L.P.’s holdings in Simon Property Group were worth $15,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group during the second quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the second quarter valued at $27,000. RFP Financial Group LLC raised its stake in shares of Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Simon Property Group in the second quarter valued at $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at $30,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial raised their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. 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 report on Monday, August 26th. Mizuho increased 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. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

SPG stock opened at $183.60 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a fifty-two week low of $122.50 and a fifty-two week high of $186.00. The business has a 50 day moving average price of $174.30 and a 200 day moving average price of $161.46. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 10.72 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm posted $3.20 EPS. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.78 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, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.58%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 109.19%.

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.