Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,739 shares of the real estate investment trust’s stock after selling 999 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Simon Property Group were worth $6,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $30,000. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group during the fourth quarter worth approximately $41,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at $45,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on SPG. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Mizuho increased their price target 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. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Trading Up 0.8 %

NYSE:SPG opened at $187.60 on Tuesday. The stock has a market cap of $61.21 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock’s 50-day moving average is $177.63 and its two-hundred day moving average is $174.07.

Simon Property Group (NYSE:SPG) last announced 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%. As a group, equities research analysts forecast 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 declared 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. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling

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 price 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 of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.

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.