Simon Property Group, Inc. (NYSE:SPG) Stock Position Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106,530 shares of the real estate investment trust’s stock after selling 153,118 shares during the period. Simon Property Group accounts for about 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Los Angeles Capital Management LLC owned approximately 0.34% of Simon Property Group worth $190,556,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Simon Property Group by 617.5% in the 3rd 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 valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Hamlin Capital Management LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $109,403,000. Mizuho Securities USA LLC grew its holdings in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares in the last quarter. KBC Group NV grew its holdings in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Simon Property Group by 295.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after purchasing an additional 489,519 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Simon Property Group Trading Up 0.4 %

SPG stock opened at $184.57 on Tuesday. The company has a market cap of $60.22 billion, a P/E ratio of 25.42, 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 company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business has a fifty day moving average of $176.43 and a 200-day moving average of $173.07.

Simon Property Group (NYSE:SPG) last released its 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 return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts expect 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. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.55%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

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.