Crossmark Global Holdings Inc. Sells 3,999 Shares of Simon Property Group, Inc. (NYSE:SPG)

Crossmark Global Holdings Inc. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,397 shares of the real estate investment trust’s stock after selling 3,999 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Simon Property Group were worth $6,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares during the period. Smead Capital Management Inc. boosted its stake in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after purchasing an additional 993,694 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Simon Property Group by 6.9% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after purchasing an additional 73,742 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Simon Property Group Trading Up 1.0 %

NYSE:SPG opened at $175.88 on Wednesday. The firm has a 50-day simple moving average of $177.05 and a 200-day simple moving average of $168.15. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The firm has a market cap of $57.39 billion, a P/E ratio of 23.42, a P/E/G ratio of 9.33 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued 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 the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $3.20 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.78%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho upped their price target 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. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $172.10.

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.