Mutual of America Capital Management LLC Sells 1,626 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mutual of America Capital Management LLC lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,107 shares of the real estate investment trust’s stock after selling 1,626 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Simon Property Group were worth $6,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SPG. Clearstead Trust LLC bought a new position in Simon Property Group during the first quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in Simon Property Group during the second quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the first quarter valued at $26,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group in the second quarter valued at $27,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler reissued 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 increased 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. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Trading Down 0.3 %

NYSE SPG opened at $166.55 on Friday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 9.04 and a beta of 1.74. The company’s 50-day simple moving average is $159.20 and its two-hundred day simple moving average is $152.13. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $2.05 dividend. The ex-dividend date of this dividend is 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 4.92%. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company 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.