Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,882 shares of the real estate investment trust’s stock after selling 94 shares during the period. Lazari Capital Management Inc.’s holdings in Simon Property Group were worth $487,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Eastern Bank acquired a new position in Simon Property Group in the third quarter valued at $42,000. Signaturefd LLC lifted its holdings in shares of Simon Property Group by 9.7% in the 3rd quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 486 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at about $5,321,000. Venture Visionary Partners LLC boosted its position in shares of Simon Property Group by 16.1% in the 3rd quarter. Venture Visionary Partners LLC now owns 16,865 shares of the real estate investment trust’s stock valued at $2,851,000 after purchasing an additional 2,334 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Simon Property Group by 3.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 34,597 shares of the real estate investment trust’s stock worth $5,847,000 after buying an additional 1,016 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial upped their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank raised their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $162.78.

Insider Transactions at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.4 %

NYSE SPG opened at $174.85 on Wednesday. Simon Property Group, Inc. has a 52-week low of $104.05 and a 52-week high of $177.08. The firm has a 50-day moving average price of $166.73 and a 200 day moving average price of $155.02. The stock has a market capitalization of $57.01 billion, a P/E ratio of 22.22, a P/E/G ratio of 9.70 and a beta of 1.74. 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 (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $2.88 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Simon Property Group, Inc. will post 12.85 EPS 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 given a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Monday, September 9th. Simon Property Group’s payout ratio is presently 104.19%.

Simon Property Group Company Profile

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.