Meeder Advisory Services Inc. Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Meeder Advisory Services Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,178 shares of the real estate investment trust’s stock after selling 149 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Simon Property Group were worth $1,720,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Napa Wealth Management bought a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $261,000. Natixis Advisors LLC lifted its stake in Simon Property Group by 4.6% in the third quarter. Natixis Advisors LLC now owns 185,955 shares of the real estate investment trust’s stock worth $31,430,000 after acquiring an additional 8,156 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after purchasing an additional 633,072 shares in the last quarter. Empowered Funds LLC increased its holdings in Simon Property Group by 17.2% during the third quarter. Empowered Funds LLC now owns 43,810 shares of the real estate investment trust’s stock valued at $7,405,000 after buying an additional 6,437 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in Simon Property Group by 3.2% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 17,296 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 530 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho lifted their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. 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. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Trading Up 0.3 %

Shares of Simon Property Group stock opened at $180.85 on Tuesday. The firm’s 50 day simple moving average is $171.15 and its two-hundred day simple moving average is $159.25. The firm has a market capitalization of $59.01 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 10.52 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $119.92 and a 12-month high of $182.84. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

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

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 109.19%.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction 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 $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by insiders.

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.