Beacon Pointe Advisors LLC Buys 1,879 Shares of Simon Property Group, Inc. (NYSE:SPG)

Beacon Pointe Advisors LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) by 13.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,708 shares of the real estate investment trust’s stock after acquiring an additional 1,879 shares during the period. Beacon Pointe Advisors LLC’s holdings in Simon Property Group were worth $1,494,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Cetera Advisor Networks LLC increased its stake in shares of Simon Property Group by 133.5% in the second quarter. Cetera Advisor Networks LLC now owns 6,098 shares of the real estate investment trust’s stock valued at $578,000 after buying an additional 3,486 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Simon Property Group by 76.4% during the 2nd quarter. Checchi Capital Advisers LLC now owns 4,762 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 2,062 shares during the last quarter. Bridgewater Associates LP grew its holdings in Simon Property Group by 158.8% during the 2nd quarter. Bridgewater Associates LP now owns 106,209 shares of the real estate investment trust’s stock worth $10,081,000 after acquiring an additional 65,173 shares during the last quarter. VELA Investment Management LLC bought a new stake in Simon Property Group during the 2nd quarter worth about $272,000. Finally, Cullen Capital Management LLC grew its holdings in Simon Property Group by 16.0% during the 2nd quarter. Cullen Capital Management LLC now owns 7,300 shares of the real estate investment trust’s stock worth $693,000 after acquiring an additional 1,009 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Simon Property Group from $129.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, October 4th. StockNews.com assumed coverage on shares of Simon Property Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Evercore ISI decreased their price objective on shares of Simon Property Group to $114.00 in a report on Thursday, October 20th. UBS Group increased their price objective on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Finally, Truist Financial reduced their target price on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $131.92.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $119.61 on Thursday. The company has a market capitalization of $39.11 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.67 and a beta of 1.51. The firm’s 50 day simple moving average is $103.24 and its 200 day simple moving average is $104.50. The company has a debt-to-equity ratio of 7.17, a current ratio of 0.98 and a quick ratio of 0.98. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $169.24.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 6.02%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, December 8th. Simon Property Group’s dividend payout ratio (DPR) is currently 116.86%.

About Simon Property Group

(Get Rating)

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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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