American Assets Capital Advisers LLC Sells 29,659 Shares of Simon Property Group, Inc. (NYSE:SPG)

American Assets Capital Advisers LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,072 shares of the real estate investment trust’s stock after selling 29,659 shares during the period. Simon Property Group comprises about 4.1% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 11th biggest position. American Assets Capital Advisers LLC’s holdings in Simon Property Group were worth $12,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC raised its stake in shares of Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares during the last quarter. Victory Capital Management Inc. raised its position in Simon Property Group by 6.0% in the 3rd quarter. Victory Capital Management Inc. now owns 227,776 shares of the real estate investment trust’s stock valued at $38,499,000 after purchasing an additional 12,854 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Simon Property Group by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 6,509 shares of the real estate investment trust’s stock worth $1,100,000 after purchasing an additional 190 shares in the last quarter. Balboa Wealth Partners acquired a new position in Simon Property Group in the third quarter worth $206,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Simon Property Group by 3.4% during the third quarter. CIBC Asset Management Inc now owns 45,308 shares of the real estate investment trust’s stock worth $7,658,000 after purchasing an additional 1,506 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPG shares. 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 target for the company. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Up 1.0 %

NYSE:SPG opened at $161.13 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The stock’s fifty day simple moving average is $177.03 and its 200-day simple moving average is $174.43. The firm has a market capitalization of $52.57 billion, a P/E ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78.

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%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 5.21%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased at an average cost 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 in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

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.