Simon Property Group, Inc. (NYSE:SPG) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 47.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,876 shares of the real estate investment trust’s stock after selling 1,725 shares during the period. SageView Advisory Group LLC’s holdings in Simon Property Group were worth $261,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of Simon Property Group by 16.6% during the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after acquiring an additional 51,380 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Simon Property Group by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after purchasing an additional 6,703 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $5,706,000. SG Americas Securities LLC lifted its position in shares of Simon Property Group by 121.5% during the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after purchasing an additional 17,552 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Simon Property Group by 97.8% during the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock worth $10,708,000 after purchasing an additional 37,108 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

SPG opened at $146.17 on Friday. The business’s 50 day moving average is $146.74 and its 200-day moving average is $145.93. The stock has a market cap of $47.64 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 8.74 and a beta of 1.71. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $157.82.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.74 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is 101.91%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SPG. Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Argus increased their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.60.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.