Autumn Glory Partners LLC Has $467,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Autumn Glory Partners LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,710 shares of the real estate investment trust’s stock after selling 2,710 shares during the quarter. Autumn Glory Partners LLC’s holdings in Simon Property Group were worth $467,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter worth about $30,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $41,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the 3rd quarter worth about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in Simon Property Group during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $175.10.

Simon Property Group Stock Down 0.6 %

Shares of NYSE SPG opened at $185.12 on Friday. The firm has a market capitalization of $60.40 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.14. The firm’s 50-day moving average is $175.69 and its 200-day moving average is $171.22.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.54%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate 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.