Oppenheimer & Co. Inc. Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Oppenheimer & Co. Inc. lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,265 shares of the real estate investment trust’s stock after selling 227 shares during the period. Oppenheimer & Co. Inc.’s holdings in Simon Property Group were worth $5,901,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $834,000. First Hawaiian Bank lifted its position in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC lifted its position in Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares in the last quarter. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $186.13 on Friday. The business’s fifty day moving average price is $177.31 and its 200-day moving average price is $173.62. The stock has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.51%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company 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.