Invesco Ltd. Has $608.05 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Invesco Ltd. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,661,203 shares of the real estate investment trust’s stock after selling 555,372 shares during the quarter. Invesco Ltd. owned approximately 1.12% of Simon Property Group worth $608,053,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.8%

NYSE SPG opened at $165.08 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The firm has a market capitalization of $53.89 billion, a PE ratio of 25.51, a P/E/G ratio of 11.03 and a beta of 1.48. The stock’s 50 day moving average is $162.44 and its 200 day moving average is $164.86.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $2.90 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 5.2%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insider Activity at Simon Property Group

In related news, Director Stefan M. Selig purchased 219 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the transaction, the director directly owned 31,881 shares in the company, valued at $5,078,324.49. This represents a 0.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin purchased 246 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $39,185.34. Following the transaction, the director owned 19,010 shares of the company’s stock, valued at approximately $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,386 shares of company stock valued at $380,066 in the last 90 days. 8.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPG. Piper Sandler reduced their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Scotiabank boosted their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 17th. Stifel Nicolaus set a $179.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Mizuho dropped their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Finally, LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $182.64.

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.