JDM Financial Group LLC Has $451,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

JDM Financial Group LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 28.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,666 shares of the real estate investment trust’s stock after selling 1,047 shares during the period. JDM Financial Group LLC’s holdings in Simon Property Group were worth $451,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SPG. MidWestOne Financial Group Inc. boosted its stake in shares of Simon Property Group by 5.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 5,866 shares of the real estate investment trust’s stock valued at $991,000 after purchasing an additional 322 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in Simon Property Group by 23,444.4% in the third quarter. Prestige Wealth Management Group LLC now owns 4,238 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 4,220 shares in the last quarter. Vestcor Inc boosted its position in Simon Property Group by 2.1% in the third quarter. Vestcor Inc now owns 80,123 shares of the real estate investment trust’s stock valued at $13,542,000 after buying an additional 1,677 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in Simon Property Group by 6.9% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after buying an additional 73,742 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc acquired a new stake in shares of Simon Property Group during the third quarter worth approximately $687,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $182.14 on Tuesday. The firm has a 50-day moving average price of $175.92 and a two-hundred day moving average price of $162.93. Simon Property Group, Inc. has a 12-month low of $132.24 and a 12-month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $59.43 billion, a P/E ratio of 24.25, a P/E/G ratio of 10.75 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $3.20 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.61%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 109.19%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Scotiabank increased their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $165.44.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is owned by corporate insiders.

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.