Lincluden Management Ltd. Trims Position in Simon Property Group, Inc. (NYSE:SPG)

Lincluden Management Ltd. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,562 shares of the real estate investment trust’s stock after selling 569 shares during the period. Lincluden Management Ltd.’s holdings in Simon Property Group were worth $1,819,000 at the end of the most recent reporting period.

Other institutional investors 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 last quarter. Smead Capital Management Inc. grew its holdings in Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after acquiring an additional 25,519 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after acquiring an additional 98,366 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.4 %

Shares of SPG opened at $184.57 on Tuesday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The stock’s 50-day moving average is $176.43 and its two-hundred day moving average is $173.07. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market cap of $60.22 billion, a PE ratio of 25.42, a P/E/G ratio of 10.10 and a beta of 1.74.

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

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.55%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction on 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 acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $175.10.

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.