D.A. Davidson & CO. Lowers Position in Simon Property Group, Inc. (NYSE:SPG)

D.A. Davidson & CO. trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,350 shares of the real estate investment trust’s stock after selling 440 shares during the period. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $4,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aptus Capital Advisors LLC grew its position in shares of Simon Property Group by 3.9% during 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 purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC grew its holdings in Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after buying an additional 65 shares in the last quarter. Diligent Investors LLC raised its holdings in shares of Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares in the last quarter. Augustine Asset Management Inc. boosted its position in shares of Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of 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 purchasing an additional 68 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPG has been the subject of several research reports. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Truist Financial lifted their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Mizuho upped their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Performance

SPG stock opened at $183.75 on Thursday. Simon Property Group, Inc. has a twelve month low of $120.50 and a twelve month high of $186.00. The firm has a market cap of $59.95 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 10.51 and a beta of 1.74. The business’s fifty day simple moving average is $173.63 and its two-hundred day simple moving average is $160.88. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS. Analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.57%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 109.19%.

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.