Empowered Funds LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Empowered Funds LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,402 shares of the real estate investment trust’s stock after selling 2,408 shares during the period. Empowered Funds LLC’s holdings in Simon Property Group were worth $7,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SPG. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the 3rd quarter worth approximately $834,000. First Hawaiian Bank boosted its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC grew its holdings in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares during the last quarter. TTP Investments Inc. increased its position in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Simon Property Group by 72.8% during 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 last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $175.10.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Trading Up 0.3 %

NYSE SPG opened at $180.48 on Tuesday. The company has a fifty day moving average of $175.50 and a 200 day moving average of $170.58. The company has a market capitalization of $58.89 billion, a PE ratio of 24.86, a P/E/G ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last issued its 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 return on equity of 74.02% and a net margin of 41.49%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced 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 dividend yield of 4.65%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Simon Property Group 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.