Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Leo Wealth LLC

Leo Wealth LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,628 shares of the real estate investment trust’s stock after selling 79 shares during the quarter. Leo Wealth LLC’s holdings in Simon Property Group were worth $275,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SPG. Clearstead Trust LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group in the second quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group during the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC lifted its holdings in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho boosted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank raised their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $174.85 on Wednesday. The stock has a market cap of $57.01 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.70 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $177.08. The stock’s 50 day moving average price is $166.73 and its 200 day moving average price is $155.02.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $2.88 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.69%. Simon Property Group’s dividend payout ratio (DPR) is 104.19%.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

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.