Presima Securities ULC Sells 14,925 Shares of Simon Property Group, Inc. (NYSE:SPG)

Presima Securities ULC cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 56.9% in the third quarter, Holdings Channel.com reports. The firm owned 11,302 shares of the real estate investment trust’s stock after selling 14,925 shares during the quarter. Simon Property Group comprises approximately 0.4% of Presima Securities ULC’s investment portfolio, making the stock its 29th biggest position. Presima Securities ULC’s holdings in Simon Property Group were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Clearstead Trust LLC bought a new stake in Simon Property Group in the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the 1st quarter valued at $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the second quarter worth $27,000. Finally, RFP Financial Group LLC lifted its position in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 0.2 %

Shares of NYSE SPG opened at $175.03 on Thursday. The stock has a market capitalization of $57.05 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 9.20 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $176.70. The stock’s fifty day simple moving average is $165.18 and its two-hundred day simple moving average is $154.29.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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). The company had revenue of $1.32 billion for 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%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a $2.05 dividend. The ex-dividend date was Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.68%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is presently 104.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Mizuho upped their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $162.78.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.