Y Intercept Hong Kong Ltd Purchases New Stake in Simon Property Group, Inc. $SPG

Y Intercept Hong Kong Ltd bought 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 (SEC). The fund bought 8,292 shares of the real estate investment trust’s stock, valued at approximately $1,333,000.

A number of other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Simon Property Group by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 348,259 shares of the real estate investment trust’s stock worth $55,986,000 after purchasing an additional 29,456 shares in the last quarter. Wealthfront Advisers LLC boosted its position in Simon Property Group by 10.8% during the second quarter. Wealthfront Advisers LLC now owns 65,912 shares of the real estate investment trust’s stock worth $10,596,000 after purchasing an additional 6,437 shares in the last quarter. Brighton Jones LLC boosted its position in Simon Property Group by 23.7% during the second quarter. Brighton Jones LLC now owns 2,246 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 431 shares in the last quarter. MQS Management LLC boosted its position in Simon Property Group by 10.9% during the second quarter. MQS Management LLC now owns 6,466 shares of the real estate investment trust’s stock worth $1,039,000 after purchasing an additional 637 shares in the last quarter. Finally, Rational Advisors Inc. boosted its position in Simon Property Group by 9.5% during the second quarter. Rational Advisors Inc. now owns 2,549 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 221 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research report on Tuesday, September 2nd. Morgan Stanley upped their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Finally, Truist Financial upped their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $187.31.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $175.95 on Monday. The firm has a market capitalization of $57.45 billion, a P/E ratio of 27.19, a PEG ratio of 12.73 and a beta of 1.50. The stock has a fifty day moving average price of $180.19 and a 200 day moving average price of $168.67. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.90 earnings per share. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

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.