Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,854 shares of the real estate investment trust’s stock after selling 1,886 shares during the period. Naviter Wealth LLC’s holdings in Simon Property Group were worth $3,694,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the second quarter valued at about $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group in the first quarter worth about $26,000. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group during the 2nd quarter valued at about $27,000. Finally, RFP Financial Group LLC lifted its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Allan B. Hubbard purchased 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Down 0.4 %

Shares of Simon Property Group stock traded down $0.72 during midday trading on Thursday, reaching $174.31. 36,044 shares of the company’s stock traded hands, compared to its average volume of 1,459,276. The company has a market cap of $56.83 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 9.41 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $104.05 and a 52 week high of $176.70. The company’s 50 day simple moving average is $165.18 and its 200 day simple moving average is $154.29. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $2.88 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Equities analysts expect 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 announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $2.05 dividend. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.70%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

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.