Genesee Capital Advisors LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,055 shares of the real estate investment trust’s stock after selling 85 shares during the period. Genesee Capital Advisors LLC’s holdings in Simon Property Group were worth $871,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the third quarter worth $42,000. Eastern Bank purchased a new position in shares of Simon Property Group in the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC acquired a new position in shares of Simon Property Group during the 3rd quarter valued at $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Simon Property Group by 107.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Insider Buying and Selling
In other news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Report on Simon Property Group
Simon Property Group Price Performance
NYSE SPG opened at $175.58 on Wednesday. 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, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a market cap of $57.29 billion, a PE ratio of 23.38, a PEG ratio of 9.26 and a beta of 1.75. The stock’s 50-day moving average price is $176.61 and its two-hundred day moving average price is $169.12.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $3.20 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.78%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend 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.
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