Adell Harriman & Carpenter Inc. Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Adell Harriman & Carpenter Inc. cut its position in Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,740 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Simon Property Group were worth $2,538,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the third quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Eastern Bank purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPG. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $175.10.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $185.12 on Friday. The firm has a fifty day moving average price of $175.69 and a 200-day moving average price of $171.22. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market cap of $60.40 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.54%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.