Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 20.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,922 shares of the real estate investment trust’s stock after selling 509 shares during the quarter. Financial Counselors Inc.’s holdings in Simon Property Group were worth $325,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the period. Public Sector Pension Investment Board increased its position in Simon Property Group by 18.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust’s stock valued at $9,028,000 after acquiring an additional 8,132 shares during the period. CreativeOne Wealth LLC raised its stake in Simon Property Group by 128.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock valued at $1,277,000 after acquiring an additional 4,241 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $376,000. Finally, Glenmede Trust Co. NA lifted its position in Simon Property Group by 477.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock worth $16,978,000 after acquiring an additional 83,049 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial upped their price target 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. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho raised 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. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.60 on Friday. Simon Property Group, Inc. has a 12 month low of $122.50 and a 12 month high of $186.00. The firm has a market capitalization of $59.90 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. The business’s 50 day simple moving average is $174.30 and its 200-day simple moving average is $161.38. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $3.20 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.78 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Insider Activity

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

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.