Oliver Luxxe Assets LLC Sells 83 Shares of Simon Property Group, Inc. (NYSE:SPG)

Oliver Luxxe Assets LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,883 shares of the real estate investment trust’s stock after selling 83 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $5,727,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SPG. Sound Income Strategies LLC raised its stake in shares of Simon Property Group by 5.3% during the 3rd quarter. Sound Income Strategies LLC now owns 101,748 shares of the real estate investment trust’s stock worth $17,198,000 after acquiring an additional 5,138 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Simon Property Group by 11.2% during the 3rd quarter. CVA Family Office LLC now owns 715 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 72 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Simon Property Group by 8.5% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 5,451 shares of the real estate investment trust’s stock worth $921,000 after acquiring an additional 425 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Simon Property Group by 100.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 113,462 shares of the real estate investment trust’s stock worth $19,177,000 after acquiring an additional 56,862 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Simon Property Group by 12.9% during the 3rd quarter. Ritholtz Wealth Management now owns 9,851 shares of the real estate investment trust’s stock worth $1,665,000 after acquiring an additional 1,128 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $170.78 on Monday. The firm has a 50-day simple moving average of $163.88 and a 200-day simple moving average of $153.91. The stock has a market capitalization of $55.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 9.20 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 52 week low of $104.05 and a 52 week high of $171.51.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company earned $2.88 earnings per share. Simon Property Group’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.80%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPG. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial upped their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Buying and Selling

In other news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by company insiders.

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.