Moran Wealth Management LLC Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Moran Wealth Management LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 13,261 shares of the real estate investment trust’s stock after selling 146 shares during the period. Moran Wealth Management LLC’s holdings in Simon Property Group were worth $2,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $539,393,000 after acquiring an additional 2,746,503 shares during the last quarter. Hamlin Capital Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at $109,403,000. Mizuho Securities USA LLC lifted its holdings in Simon Property Group by 2,520.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after purchasing an additional 633,072 shares in the last quarter. KBC Group NV boosted its stake in 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 during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Simon Property Group by 22,608.6% during the 4th 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. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Down 1.0 %

Shares of NYSE:SPG opened at $163.64 on Wednesday. The company has a market capitalization of $53.39 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The business has a 50-day moving average price of $177.75 and a 200 day moving average price of $174.60. 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 posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.