Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 16,350 shares of the real estate investment trust’s stock after selling 396 shares during the period. Redmond Asset Management LLC’s holdings in Simon Property Group were worth $2,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. grew its holdings in Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after acquiring an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after acquiring an additional 25,519 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after purchasing an additional 98,366 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after purchasing an additional 993,694 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock opened at $183.86 on Friday. The company has a market capitalization of $59.99 billion, a P/E ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The business has a 50 day simple moving average of $176.37 and a 200-day simple moving average of $172.60. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’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 completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.