FNY Investment Advisers LLC Cuts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

FNY Investment Advisers LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the real estate investment trust’s stock after selling 1,800 shares during the quarter. FNY Investment Advisers LLC’s holdings in Simon Property Group were worth $1,084,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC boosted its holdings in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 61 shares during the last quarter. Inspire Advisors LLC boosted its stake in Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after buying an additional 65 shares during the last quarter. Groupama Asset Managment grew its holdings in Simon Property Group by 0.9% in the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after buying an additional 67 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after acquiring an additional 68 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Simon Property Group by 2.8% during the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after acquiring an additional 71 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Jefferies Financial Group upgraded 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 research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on 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. Finally, Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $172.10.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $172.98 on Tuesday. The company has a market cap of $56.44 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The company has a fifty day simple moving average of $177.40 and a two-hundred day simple moving average of $167.28.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.86%. Simon Property Group’s dividend payout ratio is currently 111.85%.

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.