Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,536 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Simon Property Group were worth $609,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Synergy Asset Management LLC acquired a new position in Simon Property Group during the 4th quarter valued at approximately $41,000. Highland Capital Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at $1,190,000. Ibex Wealth Advisors acquired a new position in shares of Simon Property Group during the fourth quarter valued at $404,000. SteelPeak Wealth LLC grew its position in shares of Simon Property Group by 18.8% during the fourth quarter. SteelPeak Wealth LLC now owns 9,153 shares of the real estate investment trust’s stock worth $1,576,000 after acquiring an additional 1,446 shares during the last quarter. Finally, Vert Asset Management LLC increased its holdings in shares of Simon Property Group by 3.1% in the 4th quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust’s stock worth $21,595,000 after acquiring an additional 3,783 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly 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 legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Simon Property Group Stock Performance

Simon Property Group stock opened at $173.86 on Thursday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $56.73 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The firm’s 50 day simple moving average is $176.49 and its 200-day simple moving average is $169.30.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research 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. Investors of record on Monday, December 9th were issued a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Simon Property Group 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.