Simon Property Group, Inc. (NYSE:SPG) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,532 shares of the real estate investment trust’s stock after selling 849 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Simon Property Group were worth $3,191,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eastern Bank acquired a new stake in shares of Simon Property Group during the third quarter worth approximately $42,000. Hennion & Walsh Asset Management Inc. boosted its stake in Simon Property Group by 29.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock valued at $1,389,000 after acquiring an additional 1,871 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Simon Property Group by 8.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after acquiring an additional 607 shares in the last quarter. Ballentine Partners LLC grew its holdings in Simon Property Group by 1.6% during the 3rd quarter. Ballentine Partners LLC now owns 4,702 shares of the real estate investment trust’s stock worth $795,000 after acquiring an additional 75 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Simon Property Group in the 3rd quarter worth about $759,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price 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 of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Simon Property Group Stock Performance

SPG stock opened at $183.86 on Monday. The stock’s fifty day moving average is $176.37 and its two-hundred day moving average is $172.86. The stock has a market capitalization of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

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

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.