Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.1% in the 4th quarter, HoldingsChannel reports. The fund owned 74,301 shares of the real estate investment trust’s stock after selling 6,535 shares during the period. Corient Private Wealth LLC’s holdings in Simon Property Group were worth $12,579,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. one8zero8 LLC acquired a new position in Simon Property Group in the 4th quarter valued at $1,527,000. Natixis Advisors LLC raised its holdings in Simon Property Group by 6.1% in the 4th quarter. Natixis Advisors LLC now owns 197,248 shares of the real estate investment trust’s stock valued at $33,968,000 after acquiring an additional 11,293 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of Simon Property Group by 2.6% during the 4th quarter. Frank Rimerman Advisors LLC now owns 8,031 shares of the real estate investment trust’s stock worth $1,383,000 after buying an additional 207 shares during the last quarter. Alpine Woods Capital Investors LLC increased its holdings in shares of Simon Property Group by 6.3% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 9,981 shares of the real estate investment trust’s stock worth $1,719,000 after buying an additional 594 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Simon Property Group during the 4th quarter worth $141,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG opened at $164.73 on Thursday. 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 firm has a 50-day moving average of $176.50 and a two-hundred day moving average of $174.40. The stock has a market cap of $53.75 billion, a P/E ratio of 22.69, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

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 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%. On average, research analysts expect 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 given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. Simon Property Group’s payout ratio is currently 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired 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 owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $180.33.

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.