CORDA Investment Management LLC. Has $37.34 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

CORDA Investment Management LLC. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,829 shares of the real estate investment trust’s stock after selling 4,524 shares during the period. Simon Property Group makes up approximately 3.0% of CORDA Investment Management LLC.’s portfolio, making the stock its 13th biggest position. CORDA Investment Management LLC. owned approximately 0.07% of Simon Property Group worth $37,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the 3rd quarter valued at $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the 4th quarter valued at $41,000. Synergy Asset Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at $41,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group during the fourth quarter worth $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The shares were purchased 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 $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Stock Performance

SPG stock opened at $182.66 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market cap of $59.60 billion, a PE ratio of 25.16, a P/E/G ratio of 10.10 and a beta of 1.74. The business has a 50 day moving average of $177.02 and a 200-day moving average of $173.39. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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 given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.60%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Simon Property Group Company 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.