Callan Family Office LLC Invests $249,000 in Simon Property Group, Inc. (NYSE:SPG)

Callan Family Office LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,643 shares of the real estate investment trust’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Clearstead Trust LLC bought a new position in Simon Property Group in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Simon Property Group in the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group in the 1st quarter worth approximately $26,000. Cape Investment Advisory Inc. grew its holdings in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 192 shares in the last quarter. Finally, RFP Financial Group LLC grew its holdings in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 160 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.5 %

Shares of SPG opened at $167.36 on Tuesday. The stock has a 50 day simple moving average of $152.67 and a 200-day simple moving average of $149.97. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $168.09. The stock has a market cap of $54.55 billion, a PE ratio of 21.32, a PEG ratio of 8.58 and a beta of 1.75. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.90%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s payout ratio is presently 104.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPG shares. Argus increased their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Evercore ISI increased their price target on Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Stifel Nicolaus increased their price target on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Scotiabank increased 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.65.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 486 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.