American Assets Capital Advisers LLC Decreases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

American Assets Capital Advisers LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 16.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,731 shares of the real estate investment trust’s stock after selling 20,056 shares during the period. Simon Property Group accounts for 5.2% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 8th biggest position. American Assets Capital Advisers LLC’s holdings in Simon Property Group were worth $17,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Simon Property Group during the first quarter valued at approximately $226,000. US Bancorp DE increased its position in Simon Property Group by 3.8% during the 1st quarter. US Bancorp DE now owns 58,468 shares of the real estate investment trust’s stock valued at $9,150,000 after buying an additional 2,117 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Simon Property Group by 1.3% during the first quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock valued at $944,000 after buying an additional 78 shares during the last quarter. Entropy Technologies LP purchased a new stake in Simon Property Group during the 1st quarter valued at $731,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Simon Property Group by 196.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 336,446 shares of the real estate investment trust’s stock worth $52,650,000 after buying an additional 223,122 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $1.44 on Tuesday, hitting $179.90. 287,141 shares of the company were exchanged, compared to its average volume of 1,436,092. Simon Property Group, Inc. has a 1-year low of $113.46 and a 1-year high of $182.46. The company has a quick ratio of 2.04, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $58.65 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 10.44 and a beta of 1.74. The company has a 50-day moving average price of $169.61 and a 200 day moving average price of $157.93.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.20 earnings per share. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.67%. Simon Property Group’s dividend payout ratio is presently 109.19%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on SPG. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho lifted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group 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.