Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,657 shares of the real estate investment trust’s stock after selling 70 shares during the period. Forte Capital LLC ADV’s holdings in Simon Property Group were worth $630,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Childress Capital Advisors LLC boosted its position in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares during the period. 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 buying an additional 61 shares during the period. Bleakley Financial Group LLC raised its holdings in Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 62 shares during the period. Finally, Carnegie Investment Counsel raised its holdings in Simon Property Group by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 65 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.86 on Friday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a 50-day moving average of $176.37 and a 200-day moving average of $172.60. The firm has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 10.05 and a beta of 1.74.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction 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 $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.