Lbp Am Sa Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Lbp Am Sa reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,859 shares of the real estate investment trust’s stock after selling 18,476 shares during the quarter. Lbp Am Sa’s holdings in Simon Property Group were worth $15,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Assetmark Inc. raised its position in Simon Property Group by 3.8% in the 3rd quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 322 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Simon Property Group in the 3rd quarter worth about $52,000. Venturi Wealth Management LLC raised its position in Simon Property Group by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 622 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 88 shares during the period. Apollon Wealth Management LLC raised its position in Simon Property Group by 9.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,701 shares of the real estate investment trust’s stock worth $1,133,000 after purchasing an additional 599 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in Simon Property Group by 3.9% in 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 period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. 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, the stock currently has an average rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Price Performance

Shares of SPG opened at $159.12 on Friday. The company has a market cap of $51.92 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. 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 company has a 50 day moving average of $177.33 and a two-hundred day moving average of $174.43.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.