Simon Property Group, Inc. (NYSE:SPG) Position Reduced by Global Retirement Partners LLC

Global Retirement Partners LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,468 shares of the real estate investment trust’s stock after selling 69 shares during the quarter. Global Retirement Partners LLC’s holdings in Simon Property Group were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank boosted its position in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 1,372 shares during the period. Red Cedar Investment Management LLC grew its stake in Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Seven 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, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Trading Down 0.5 %

Shares of SPG stock opened at $183.69 on Wednesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a fifty day moving average of $176.50 and a 200-day moving average of $173.25. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The stock has a market cap of $59.93 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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.