Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Secured Retirement Advisors LLC

Secured Retirement Advisors LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,015 shares of the real estate investment trust’s stock after selling 123 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Simon Property Group were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC boosted its holdings in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Caisse Des Depots ET Consignations acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $31,000. Continuum Advisory LLC boosted its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares during the period. TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $34,000. Finally, Colonial Trust Co SC increased its stake in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several recent research reports. Mizuho decreased their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Barclays began coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price for the company. Scotiabank upped their price target on Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler lowered their price objective on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $178.50.

Simon Property Group Stock Down 1.1%

Shares of NYSE SPG opened at $161.69 on Friday. The business has a 50-day moving average of $161.31 and a two-hundred day moving average of $166.08. The company has a market capitalization of $52.78 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 9.02 and a beta of 1.43. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.56 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.20%. Simon Property Group’s dividend payout ratio is presently 133.76%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 522 shares of the company’s stock in a transaction on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $83,149.38. Following the completion of the acquisition, the director owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel C. Smith bought 378 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $60,211.62. Following the completion of the acquisition, the director directly owned 31,998 shares in the company, valued at approximately $5,096,961.42. The trade was a 1.20% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,386 shares of company stock worth $380,066. 8.66% of the stock is currently owned by company insiders.

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.