Lbp Am Sa bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 44,884 shares of the real estate investment trust’s stock, valued at approximately $5,183,000.

Other institutional investors have also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in shares of Simon Property Group during the second quarter worth about $26,000. Financial Freedom LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $27,000. PSI Advisors LLC purchased a new stake in shares of Simon Property Group during the second quarter worth about $29,000. Capital Advisors Ltd. LLC grew its position in shares of Simon Property Group by 483.3% during the second quarter. Capital Advisors Ltd. LLC now owns 280 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Simon Property Group during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Insider Activity

In related news, CFO Brian J. Mcdade purchased 359 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were acquired at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the acquisition, the chief financial officer now owns 25,741 shares of the company’s stock, valued at approximately $2,810,659.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Simon Property Group news, CFO Brian J. Mcdade bought 359 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were purchased at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the purchase, the chief financial officer now directly owns 25,741 shares in the company, valued at $2,810,659.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz bought 580 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average price of $110.04 per share, for a total transaction of $63,823.20. Following the completion of the purchase, the director now owns 49,727 shares in the company, valued at $5,471,959.08. The disclosure for this purchase can be found here. Company insiders own 8.58% of the company’s stock.

Simon Property Group Trading Down 0.4 %

Shares of NYSE SPG opened at $130.28 on Tuesday. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $133.08. The business has a fifty day simple moving average of $113.05 and a two-hundred day simple moving average of $114.04. The firm has a market cap of $42.50 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 6.19 and a beta of 1.58. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 7.40.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $1.90 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 5.83%. Simon Property Group’s dividend payout ratio is presently 112.59%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SPG shares. Truist Financial cut their price target on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a report on Tuesday, August 29th. JPMorgan Chase & Co. cut their price target on Simon Property Group from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus lowered their price objective on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.90.

View Our Latest Report on Simon Property Group

Simon Property Group Profile (Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Original: MarketBeat News Feed: Lbp Am Sa Invests $5.18 Million in Simon Property Group, Inc. (NYSE:SPG)