Simon Property Group, Inc. (NYSE:SPG) Stake Decreased by Augustine Asset Management Inc.

Augustine Asset Management Inc. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751 shares of the real estate investment trust’s stock after selling 69 shares during the quarter. Augustine Asset Management Inc.’s holdings in Simon Property Group were worth $302,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter worth $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group in the 4th quarter valued at about $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter valued at about $41,000. Eastern Bank acquired a new position in Simon Property Group during the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth about $45,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 2.1 %

Shares of NYSE SPG opened at $184.37 on Wednesday. The business has a fifty day simple moving average of $175.48 and a 200-day simple moving average of $170.80. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

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, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company 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 dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SPG. 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 report on Wednesday, February 5th. 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 target price for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. 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 report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $175.10.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

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.