Vestcor Inc Has $7.51 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Vestcor Inc lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 45.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,630 shares of the real estate investment trust’s stock after selling 36,493 shares during the period. Vestcor Inc’s holdings in Simon Property Group were worth $7,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avantax Advisory Services Inc. boosted its stake in Simon Property Group by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 14,504 shares of the real estate investment trust’s stock worth $2,498,000 after purchasing an additional 1,486 shares in the last quarter. Truvestments Capital LLC boosted its stake in Simon Property Group by 1.7% in the fourth quarter. Truvestments Capital LLC now owns 23,354 shares of the real estate investment trust’s stock worth $4,022,000 after purchasing an additional 396 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in Simon Property Group by 5.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 107 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Simon Property Group by 30.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,812 shares of the real estate investment trust’s stock worth $1,001,000 after purchasing an additional 1,354 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased 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 of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase 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 owned by corporate insiders.

Simon Property Group Trading Up 1.5 %

NYSE:SPG opened at $165.95 on Thursday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The business’s 50-day moving average price is $177.62 and its two-hundred day moving average price is $174.54. The firm has a market capitalization of $54.15 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 10.10 and a beta of 1.78. 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 announced its quarterly 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%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Piper Sandler raised 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 note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Company 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.