1,190 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by D Orazio & Associates Inc.

D Orazio & Associates Inc. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,190 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group during the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group during the 2nd quarter valued at $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group during the second quarter valued at about $27,000. Finally, RFP Financial Group LLC raised its position in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Up 0.6 %

Shares of SPG stock opened at $179.22 on Thursday. Simon Property Group, Inc. has a 1-year low of $118.60 and a 1-year high of $182.84. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The company has a market cap of $58.43 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 10.40 and a beta of 1.74. The stock’s fifty day moving average price is $169.89 and its 200 day moving average price is $158.18.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $3.20 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Scotiabank increased their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, 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 report on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Company 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.