Vicus Capital Sells 946 Shares of Simon Property Group, Inc. (NYSE:SPG)

Vicus Capital decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 38.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,540 shares of the real estate investment trust’s stock after selling 946 shares during the quarter. Vicus Capital’s holdings in Simon Property Group were worth $260,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new position in Simon Property Group in the 1st quarter valued at $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in Simon Property Group in the 2nd quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter valued at $27,000. Finally, Pathway Financial Advisers LLC bought a new position in Simon Property Group in the 1st quarter valued at $29,000. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade 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 is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $174.85 on Wednesday. The stock has a market cap of $57.01 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.70 and a beta of 1.74. The business has a 50 day moving average of $166.73 and a 200-day moving average of $155.02. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $2.88 earnings per share. Simon Property Group’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 4.69%. Simon Property Group’s payout ratio is presently 104.19%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPG shares. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank boosted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Mizuho boosted their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.