Tocqueville Asset Management L.P. Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

Tocqueville Asset Management L.P. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,738 shares of the real estate investment trust’s stock after selling 287 shares during the period. Tocqueville Asset Management L.P.’s holdings in Simon Property Group were worth $5,466,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC boosted its holdings in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth approximately $30,000. TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought 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 owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Simon Property Group Trading Down 1.3 %

Shares of SPG stock opened at $164.70 on Wednesday. The business’s fifty day moving average price is $176.70 and its 200 day moving average price is $174.47. The firm has a market capitalization of $53.74 billion, a PE ratio of 22.69, a P/E/G 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. 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 posted its quarterly 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 net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.10%. Simon Property Group’s payout ratio is 115.70%.

Analyst Upgrades and Downgrades

SPG has been the topic of several research reports. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $180.33.

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.