Simon Property Group, Inc. (NYSE:SPG) is Hudson Edge Investment Partners Inc.’s 9th Largest Position

Hudson Edge Investment Partners Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 45,101 shares of the real estate investment trust’s stock after selling 1,254 shares during the period. Simon Property Group accounts for about 1.3% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 9th biggest position. Hudson Edge Investment Partners Inc.’s holdings in Simon Property Group were worth $6,846,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SPG. Vanguard Group Inc. grew its position in shares of Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares during the period. Norges Bank acquired a new stake in Simon Property Group in the 4th quarter worth about $2,561,181,000. Boston Partners grew its holdings in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares during the period. Centersquare Investment Management LLC increased its stake in shares of Simon Property Group by 4.5% during the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after acquiring an additional 78,866 shares during the last quarter. Finally, PGGM Investments increased its stake in shares of Simon Property Group by 1.9% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.2 %

Shares of SPG traded up $0.32 during midday trading on Friday, reaching $164.50. 1,443,684 shares of the company were exchanged, compared to its average volume of 1,232,583. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $169.18. The stock has a 50-day moving average price of $155.87 and a 200-day moving average price of $151.15. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market cap of $53.62 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 9.05 and a beta of 1.74.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.98%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPG. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Mizuho boosted their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $161.28.

About Simon Property Group

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.