Envestnet Portfolio Solutions Inc. Sells 15,990 Shares of Simon Property Group, Inc. (NYSE:SPG)

Envestnet Portfolio Solutions Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 56.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,268 shares of the real estate investment trust’s stock after selling 15,990 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Simon Property Group were worth $2,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Simon Property Group by 617.5% in the 3rd 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 acquiring an additional 2,746,503 shares in the last quarter. Hamlin Capital Management LLC purchased a new stake in Simon Property Group during the 4th quarter valued at $109,403,000. KBC Group NV raised its stake in Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after buying an additional 539,893 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Simon Property Group by 295.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 0.3 %

Shares of Simon Property Group stock opened at $164.36 on Friday. The company has a market capitalization of $53.63 billion, a P/E ratio of 22.64, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a fifty day moving average of $176.29 and a 200 day moving average of $174.33. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 net margin of 41.49% and a return on equity of 74.02%. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Mizuho upped their price objective 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. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $180.33.

About Simon Property Group

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.