Simon Property Group, Inc. (NYSE:SPG) Stake Lowered by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,396 shares of the real estate investment trust’s stock after selling 60 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Simon Property Group were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Kathmere Capital Management LLC bought a new stake in Simon Property Group in the first quarter valued at $220,000. Hennion & Walsh Asset Management Inc. boosted its stake in Simon Property Group by 54.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,455 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 1,576 shares during the period. Vicus Capital grew its position in Simon Property Group by 11.8% in the 1st quarter. Vicus Capital now owns 2,061 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 217 shares during the last quarter. Breakwater Capital Group acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $215,000. Finally, Diversified Trust Co increased its stake in shares of Simon Property Group by 130.9% in the first quarter. Diversified Trust Co now owns 10,852 shares of the real estate investment trust’s stock valued at $1,698,000 after purchasing an additional 6,153 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

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 bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.7 %

SPG stock opened at $170.52 on Friday. The firm has a market cap of $55.58 billion, a PE ratio of 21.72, a P/E/G ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $177.08. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50 day simple moving average of $167.66 and a 200 day simple moving average of $155.45.

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

Simon Property Group Increases Dividend

The business also recently disclosed 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. This represents a $8.20 annualized dividend and a yield of 4.81%. 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. Simon Property Group’s payout ratio is presently 104.46%.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Evercore ISI raised shares of 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 research note on Monday, September 16th. Truist Financial upped their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Mizuho raised their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.