Hutchens & Kramer Investment Management Group LLC Grows Stake in Simon Property Group, Inc. (NYSE:SPG)

Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,473 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Simon Property Group were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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 buying an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Simon Property Group by 16,795.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after purchasing an additional 421,560 shares during the last quarter. Castle Hook Partners LP grew its position in Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after purchasing an additional 310,207 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after purchasing an additional 261,430 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Simon Property Group by 121.6% in the first quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock worth $67,758,000 after buying an additional 251,679 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPG shares. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial boosted their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. 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 company currently has an average rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG stock traded up $2.95 during mid-day trading on Tuesday, reaching $174.63. 1,373,739 shares of the company’s stock were exchanged, compared to its average volume of 1,467,410. The company has a market cap of $56.94 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 9.20 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $176.70. The stock’s 50 day moving average is $164.36 and its 200 day moving average is $154.02. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. Simon Property Group’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s payout ratio is 104.19%.

About Simon Property Group

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.