Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,048 shares of the real estate investment trust’s stock after selling 1,567 shares during the period. Candriam S.C.A.’s holdings in Simon Property Group were worth $25,323,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Simon Property Group by 46.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 883 shares during the last quarter. Catalina Capital Group LLC lifted its position in shares of Simon Property Group by 10.0% in the third quarter. Catalina Capital Group LLC now owns 1,986 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 180 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Simon Property Group by 139.5% in the third quarter. Harvest Portfolios Group Inc. now owns 5,592 shares of the real estate investment trust’s stock worth $945,000 after acquiring an additional 3,257 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Simon Property Group by 0.5% in the third quarter. Concurrent Investment Advisors LLC now owns 30,887 shares of the real estate investment trust’s stock worth $5,221,000 after acquiring an additional 151 shares during the last quarter. Finally, Forte Capital LLC ADV purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $630,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $174.58 on Friday. The stock has a market cap of $56.96 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a 50 day simple moving average of $178.05 and a 200-day simple moving average of $174.32. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, 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 of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.81%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analyst Ratings Changes

A number of brokerages have weighed in on SPG. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Mizuho raised 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, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 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.