First Trust Direct Indexing L.P. Purchases 184 Shares of Simon Property Group, Inc. (NYSE:SPG)

First Trust Direct Indexing L.P. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,099 shares of the real estate investment trust’s stock after acquiring an additional 184 shares during the period. First Trust Direct Indexing L.P.’s holdings in Simon Property Group were worth $2,045,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SPG. Clearstead Trust LLC bought a new stake in Simon Property Group during the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group in the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Stifel Nicolaus restated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Price Performance

SPG opened at $172.18 on Thursday. The stock has a fifty day simple moving average of $168.39 and a two-hundred day simple moving average of $156.01. 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 $56.12 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 9.35 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $104.93 and a 12-month high of $177.08.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Profile

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.