Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,222 shares of the real estate investment trust’s stock after selling 1,994 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Simon Property Group were worth $714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diligent Investors LLC increased its holdings in Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares in the last quarter. Augustine Asset Management Inc. raised its holdings in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares in the last quarter. TIAA Trust National Association raised its holdings in Simon Property Group by 3.7% in the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 69 shares in the last quarter. Inspire Advisors LLC raised its holdings in Simon Property Group by 1.7% in the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after acquiring an additional 70 shares in the last quarter. Finally, Mark Asset Management LP raised its holdings in shares of Simon Property Group by 0.9% during the second quarter. Mark Asset Management LP now owns 8,095 shares of the real estate investment trust’s stock worth $1,229,000 after purchasing an additional 72 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Simon Property Group stock opened at $167.23 on Wednesday. The firm’s 50 day simple moving average is $162.89 and its 200-day simple moving average is $153.54. The company has a market cap of $54.51 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 9.23 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a fifty-two week low of $103.36 and a fifty-two week high of $170.87.

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

Simon Property Group Increases Dividend

The firm also recently announced 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 was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.90%. Simon Property Group’s payout ratio is 104.46%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SPG shares. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Argus raised their target price on shares of 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, Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Company 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.