Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.0% during the first quarter, HoldingsChannel.com reports. The firm owned 103,595 shares of the real estate investment trust’s stock after selling 2,152 shares during the period. Simon Property Group accounts for about 1.1% of Janney Capital Management LLC’s portfolio, making the stock its 25th largest position. Janney Capital Management LLC’s holdings in Simon Property Group were worth $16,212,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in Simon Property Group by 28.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 73,758 shares of the real estate investment trust’s stock valued at $11,543,000 after acquiring an additional 16,349 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of Simon Property Group by 34.5% during the 1st quarter. Mission Wealth Management LP now owns 2,407 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 618 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $594,000. Private Advisor Group LLC raised its position in shares of Simon Property Group by 2.4% during the 1st quarter. Private Advisor Group LLC now owns 23,730 shares of the real estate investment trust’s stock worth $3,713,000 after purchasing an additional 546 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Simon Property Group in the 1st quarter valued at approximately $375,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPG. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Argus lifted their price objective on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Scotiabank upped their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Trading Down 1.5 %

Shares of NYSE SPG traded down $2.17 on Friday, reaching $146.09. 962,839 shares of the company traded hands, compared to its average volume of 1,552,001. The stock has a market capitalization of $47.62 billion, a PE ratio of 18.61, a P/E/G ratio of 8.81 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $157.82. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The company has a 50 day moving average of $148.08 and a 200 day moving average of $146.83.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company posted $2.74 EPS. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.48%. Simon Property Group’s dividend payout ratio is currently 101.91%.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.