EA Series Trust bought a new stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) during the second quarter, HoldingsChannel.com reports. The firm bought 2,294 shares of the real estate investment trust’s stock, valued at approximately $265,000.
Other institutional investors have also recently bought and sold shares of the company. Financial Freedom LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Simon Property Group in the 1st quarter worth about $27,000. PSI Advisors LLC bought a new position in Simon Property Group in the second quarter valued at about $29,000. Capital Advisors Ltd. LLC boosted its stake in shares of Simon Property Group by 483.3% during the second quarter. Capital Advisors Ltd. LLC now owns 280 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Finally, West Branch Capital LLC bought a new stake in shares of Simon Property Group during the first quarter worth about $34,000. Institutional investors and hedge funds own 84.73% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on SPG shares. JPMorgan Chase & Co. dropped their price objective on shares of Simon Property Group from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. Truist Financial cut their price target on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Tuesday, August 29th. Wolfe Research upgraded Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price objective for the company in a report on Wednesday, July 5th. Stifel Nicolaus lifted their target price on Simon Property Group from $130.00 to $139.00 in a report on Wednesday, July 12th. Finally, StockNews.com initiated coverage on Simon Property Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.80.
Insider Buying and Selling at Simon Property Group
In related news, CFO Brian J. Mcdade acquired 359 shares of Simon Property Group stock in a transaction dated Friday, September 29th. The stock was bought at an average price of $109.19 per share, with a total value of $39,199.21. Following the transaction, the chief financial officer now directly owns 25,741 shares in the company, valued at approximately $2,810,659.79. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Brian J. Mcdade acquired 359 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were purchased at an average price of $109.19 per share, for a total transaction of $39,199.21. Following the completion of the acquisition, the chief financial officer now owns 25,741 shares of the company’s stock, valued at $2,810,659.79. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Reuben S. Leibowitz acquired 580 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were bought at an average cost of $110.04 per share, for a total transaction of $63,823.20. Following the transaction, the director now directly owns 49,727 shares in the company, valued at $5,471,959.08. The disclosure for this purchase can be found here. Insiders own 8.58% of the company’s stock.
Simon Property Group Stock Performance
Shares of Simon Property Group stock opened at $105.21 on Tuesday. The business has a 50-day moving average price of $111.06 and a two-hundred day moving average price of $112.30. Simon Property Group, Inc. has a 1-year low of $100.03 and a 1-year high of $133.08. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.67. The company has a market cap of $34.42 billion, a P/E ratio of 15.99, a PEG ratio of 5.21 and a beta of 1.52.
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $1.90 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.60 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend was Thursday, September 7th. Simon Property Group’s payout ratio is presently 115.50%.
Simon Property Group Company 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.
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