Alpha Cubed Investments LLC Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

Alpha Cubed Investments LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,246 shares of the real estate investment trust’s stock after selling 699 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after purchasing an additional 421,560 shares during the last quarter. Castle Hook Partners LP grew its stake in Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock worth $40,372,000 after purchasing an additional 261,430 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Simon Property Group by 121.6% in the 1st quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock valued at $67,758,000 after purchasing an additional 251,679 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SPG shares. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank lifted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Argus upped their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Down 0.2 %

Shares of Simon Property Group stock opened at $167.23 on Wednesday. The stock has a market capitalization of $54.51 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 9.23 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $103.36 and a twelve month high of $170.87. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The business’s 50 day simple moving average is $162.64 and its 200-day simple moving average is $153.43.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. Equities research analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a $2.05 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.90%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

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.