Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 35.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,998 shares of the real estate investment trust’s stock after selling 34,897 shares during the period. Commonwealth Equity Services LLC’s holdings in Simon Property Group were worth $10,849,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPG. OneDigital Investment Advisors LLC grew its stake in shares of Simon Property Group by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,509 shares of the real estate investment trust’s stock worth $1,100,000 after purchasing an additional 190 shares during the last quarter. Caprock Group LLC grew its stake in shares of Simon Property Group by 207.8% in the 3rd quarter. Caprock Group LLC now owns 15,665 shares of the real estate investment trust’s stock worth $2,648,000 after purchasing an additional 10,575 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Simon Property Group by 96,913.6% in the third quarter. Meeder Asset Management Inc. now owns 163,953 shares of the real estate investment trust’s stock worth $27,711,000 after acquiring an additional 163,784 shares in the last quarter. Smead Capital Management Inc. increased its position in shares of Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after acquiring an additional 88,378 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of Simon Property Group by 61.8% in the third quarter. Prospera Financial Services Inc now owns 17,858 shares of the real estate investment trust’s stock worth $3,019,000 after acquiring an additional 6,819 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPG. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho lifted 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued 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 lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Performance

SPG stock opened at $164.70 on Wednesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market cap of $53.74 billion, a P/E ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.78. The firm has a 50 day simple moving average of $176.70 and a 200 day simple moving average of $174.47. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

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.