Charles Schwab Investment Management Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,573,111 shares of the real estate investment trust's stock after selling 42,605 shares during the period. Charles Schwab Investment Management Inc. owned about 1.10% of Simon Property Group worth $603,927,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of SPG. Covestor Ltd raised its position in Simon Property Group by 58.9% in the first quarter. Covestor Ltd now owns 259 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 96 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Simon Property Group by 36.6% during the first quarter. Shell Asset Management Co. now owns 3,241 shares of the real estate investment trust's stock worth $507,000 after purchasing an additional 868 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at about $26,000. CreativeOne Wealth LLC bought a new stake in Simon Property Group in the first quarter valued at approximately $465,000. Finally, Advisors Asset Management Inc. raised its holdings in Simon Property Group by 15.4% during the 1st quarter. Advisors Asset Management Inc. now owns 16,110 shares of the real estate investment trust's stock worth $2,521,000 after purchasing an additional 2,148 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.
In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on SPG. Stifel Nicolaus reaffirmed a "hold" rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Piper Sandler reissued a "neutral" rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial upped their target price on Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Finally, Mizuho raised their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $162.78.
View Our Latest Stock Report on Simon Property Group
Shares of SPG stock opened at $181.80 on Friday. The business has a 50-day moving average of $172.21 and a 200 day moving average of $159.82. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $182.84. The stock has a market capitalization of $59.32 billion, a PE ratio of 24.21, a P/E/G ratio of 10.57 and a beta of 1.74.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $3.20 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 is a boost from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.62%. Simon Property Group's dividend payout ratio (DPR) is presently 109.19%.
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.
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