Simon Property Group, Inc. (NYSE:SPG) Stake Cut by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.1% in the third quarter, HoldingsChannel reports. The fund owned 200,066 shares of the real estate investment trust’s stock after selling 118,049 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Simon Property Group were worth $33,815,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CWM LLC increased its stake in shares of Simon Property Group by 21.7% in the second quarter. CWM LLC now owns 9,080 shares of the real estate investment trust’s stock worth $1,378,000 after acquiring an additional 1,621 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of Simon Property Group by 1.8% during the 2nd quarter. Simplicity Wealth LLC now owns 6,104 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 107 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at about $25,000. Atlas Private Wealth Advisors bought a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $304,000. Finally, Peak Financial Advisors LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $2,980,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the 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 $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPG. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Truist Financial upped their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday. Seven equities research 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 company has a consensus rating of “Hold” and an average target price of $165.44.

Simon Property Group Stock Up 1.1 %

Shares of SPG stock opened at $183.81 on Friday. Simon Property Group, Inc. has a 12 month low of $129.08 and a 12 month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $59.97 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 10.60 and a beta of 1.75. The stock has a 50 day moving average of $175.34 and a 200-day moving average of $162.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for 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%. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 earnings per share. On average, equities analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

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.