Global X Japan Co. Ltd. Sells 168 Shares of Simon Property Group, Inc. (NYSE:SPG)

Global X Japan Co. Ltd. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 22.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596 shares of the real estate investment trust’s stock after selling 168 shares during the period. Global X Japan Co. Ltd.’s holdings in Simon Property Group were worth $101,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Simon Property Group during the first quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the second quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the second quarter valued at approximately $27,000. Finally, Pathway Financial Advisers LLC bought a new stake in Simon Property Group during the first quarter valued at approximately $29,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.6 %

Shares of Simon Property Group stock opened at $173.82 on Thursday. The company’s fifty day simple moving average is $167.07 and its two-hundred day simple moving average is $155.15. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market cap of $56.67 billion, a P/E ratio of 22.09, a PEG ratio of 9.70 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.88 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $2.05 per share. The ex-dividend date of this dividend was Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.72%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Insider Activity

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Scotiabank upped their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.78.

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.