Radnor Capital Management LLC Cuts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Radnor Capital Management LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,732 shares of the real estate investment trust’s stock after selling 3,747 shares during the period. Radnor Capital Management LLC’s holdings in Simon Property Group were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SPG. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group in the 3rd quarter worth $834,000. First Hawaiian Bank grew its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC raised its holdings in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares in the last quarter. TTP Investments Inc. lifted its position in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after buying an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPG shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $172.10.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The shares were purchased at an average price 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 $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $171.87 on Thursday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business has a fifty day moving average of $177.38 and a 200 day moving average of $167.43. The firm has a market capitalization of $56.08 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00.

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 analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $3.20 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Simon Property Group, Inc. will post 12.74 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. The ex-dividend date was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.89%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 111.85%.

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.