Dimensional Fund Advisors LP Has $701.46 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Dimensional Fund Advisors LP reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,621,019 shares of the real estate investment trust’s stock after selling 19,411 shares during the quarter. Dimensional Fund Advisors LP owned 1.42% of Simon Property Group worth $701,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its holdings in Simon Property Group by 1.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,459 shares of the real estate investment trust’s stock valued at $779,000 after purchasing an additional 86 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Simon Property Group by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 57,409 shares of the real estate investment trust’s stock valued at $8,189,000 after acquiring an additional 2,895 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $235,000. Kingsview Wealth Management LLC bought a new stake in Simon Property Group during the 4th quarter worth approximately $227,000. Finally, Brown Advisory Inc. increased its holdings in Simon Property Group by 5.9% during the 4th quarter. Brown Advisory Inc. now owns 6,381 shares of the real estate investment trust’s stock valued at $910,000 after purchasing an additional 353 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $164.02 on Monday. The firm has a fifty day moving average of $157.48 and a two-hundred day moving average of $151.62. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $53.48 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 8.97 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $169.18.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS 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. Stockholders of record on Monday, September 9th will be issued a $2.05 dividend. 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. This represents a $8.20 annualized dividend and a dividend yield of 5.00%. Simon Property Group’s payout ratio is 104.46%.

Analysts Set New Price Targets

A number of equities analysts have commented on SPG shares. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday. Mizuho increased their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Evercore ISI upped their target price on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $161.44.

Simon Property Group 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.