Blue Trust Inc. Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Blue Trust Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 70.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,281 shares of the real estate investment trust’s stock after selling 3,057 shares during the quarter. Blue Trust Inc.’s holdings in Simon Property Group were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.1 %

NYSE SPG opened at $185.88 on Thursday. The firm’s 50-day moving average is $176.10 and its two-hundred day moving average is $172.25. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market capitalization of $60.65 billion, a P/E ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74.

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

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.52%. Simon Property Group’s payout ratio is currently 115.70%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $175.10.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

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.