O ROURKE & COMPANY Inc Sells 299 Shares of Simon Property Group, Inc. (NYSE:SPG)

O ROURKE & COMPANY Inc reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,408 shares of the real estate investment trust’s stock after selling 299 shares during the period. O ROURKE & COMPANY Inc’s holdings in Simon Property Group were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at approximately $834,000. First Hawaiian Bank raised its holdings in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares during the period. Versant Capital Management Inc raised its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $416,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Simon Property Group stock opened at $147.98 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The firm’s fifty day moving average price is $170.08 and its 200-day moving average price is $173.25. The stock has a market cap of $48.28 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

A number of research firms recently issued reports on SPG. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.39.

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.