Bruni J V & Co. Co. Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Bruni J V & Co. Co. decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 65.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,952 shares of the real estate investment trust’s stock after selling 59,527 shares during the period. Simon Property Group accounts for 0.6% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 27th biggest position. Bruni J V & Co. Co.’s holdings in Simon Property Group were worth $5,330,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Veridan Wealth LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $819,000. Private Trust Co. NA boosted its holdings in shares of Simon Property Group by 41.5% during the fourth quarter. Private Trust Co. NA now owns 2,978 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 874 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Simon Property Group by 4.3% during the fourth quarter. QRG Capital Management Inc. now owns 186,547 shares of the real estate investment trust’s stock worth $32,125,000 after purchasing an additional 7,680 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Simon Property Group by 22,608.6% during the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after purchasing an additional 539,893 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its holdings in shares of Simon Property Group by 11.4% during the fourth quarter. Kovack Advisors Inc. now owns 1,568 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler upgraded 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. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Trading Up 1.9 %

Shares of SPG opened at $186.13 on Friday. The stock’s 50-day moving average is $177.31 and its two-hundred day moving average is $173.62. The stock has a market cap of $60.73 billion, a PE ratio of 25.64, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. 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 (NYSE:SPG) last issued its quarterly earnings data 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%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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 paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 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.