Kathmere Capital Management LLC Raises Stake in Simon Property Group, Inc. (NYSE:SPG)

Kathmere Capital Management LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,765 shares of the real estate investment trust’s stock after acquiring an additional 356 shares during the quarter. Kathmere Capital Management LLC’s holdings in Simon Property Group were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 1.5% during 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 buying an additional 672,941 shares during the period. Boston Partners grew its position in shares of Simon Property Group by 4.2% during the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after buying an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC increased its stake in shares of Simon Property Group by 4.5% during the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock worth $283,905,000 after buying an additional 78,866 shares during the period. PGGM Investments raised its holdings in Simon Property Group by 1.9% in the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after acquiring an additional 23,186 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Simon Property Group by 13.7% in the fourth quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock worth $155,030,000 after acquiring an additional 130,729 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.8 %

Simon Property Group stock opened at $167.71 on Monday. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $170.87. The firm has a market capitalization of $54.68 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 9.32 and a beta of 1.74. The stock’s fifty day moving average is $160.77 and its two-hundred day moving average is $152.77. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 4.89%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 104.46%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial lifted their target price 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. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Mizuho boosted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Company 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.