Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 13.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,596 shares of the real estate investment trust’s stock after selling 3,116 shares during the period. Tidal Investments LLC’s holdings in Simon Property Group were worth $3,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Aptus Capital Advisors LLC raised its holdings in Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Simon Property Group by 0.9% during the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after purchasing an additional 67 shares during the last quarter. Augustine Asset Management Inc. grew its stake in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of SPG stock opened at $179.60 on Friday. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 10.33 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a fifty day moving average of $176.65 and a 200-day moving average of $163.67.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $3.20 EPS. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SPG shares. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler reiterated a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $165.44.

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.