International Assets Investment Management LLC Sells 889,333 Shares of Simon Property Group, Inc. (NYSE:SPG)

International Assets Investment Management LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 99.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,752 shares of the real estate investment trust’s stock after selling 889,333 shares during the quarter. International Assets Investment Management LLC’s holdings in Simon Property Group were worth $478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co raised its holdings in Simon Property Group by 65.3% in the 4th quarter. Diversified Trust Co now owns 17,319 shares of the real estate investment trust’s stock worth $2,983,000 after acquiring an additional 6,840 shares during the period. Oliver Luxxe Assets LLC grew its position in shares of Simon Property Group by 0.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 34,104 shares of the real estate investment trust’s stock valued at $5,873,000 after purchasing an additional 221 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Simon Property Group by 13.4% in the fourth quarter. GAMMA Investing LLC now owns 5,331 shares of the real estate investment trust’s stock valued at $918,000 after purchasing an additional 630 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $1,144,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

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 dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPG. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.10.

Simon Property Group Stock Performance

NYSE:SPG opened at $171.01 on Friday. The firm has a market capitalization of $55.80 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The firm has a 50-day moving average price of $177.38 and a 200 day moving average price of $166.85.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.20 earnings per share. Research analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

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.