Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,026 shares of the real estate investment trust’s stock after selling 2,266 shares during the quarter. Fifth Third Bancorp’s holdings in Simon Property Group were worth $4,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional bought a new stake in Simon Property Group during the fourth quarter worth approximately $233,000. Sound Income Strategies LLC grew its holdings in shares of Simon Property Group by 3.9% in the 4th quarter. Sound Income Strategies LLC now owns 105,709 shares of the real estate investment trust’s stock worth $18,204,000 after acquiring an additional 3,961 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $295,000. Sustainable Insight Capital Management LLC purchased a new position in Simon Property Group in the 4th quarter worth about $473,000. Finally, Market Street Wealth Management Advisors LLC raised its holdings in Simon Property Group by 2.7% during the 4th quarter. Market Street Wealth Management Advisors LLC now owns 2,925 shares of the real estate investment trust’s stock worth $504,000 after buying an additional 77 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SPG shares. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Performance

SPG stock opened at $174.42 on Monday. The firm has a 50 day moving average of $176.69 and a two-hundred day moving average of $168.78. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 9.26 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its earnings results 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 return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $3.20 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is 111.85%.

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.