Osaic Holdings Inc. Sells 58,913 Shares of Simon Property Group, Inc. (NYSE:SPG)

Osaic Holdings Inc. lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 44.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 74,700 shares of the real estate investment trust’s stock after selling 58,913 shares during the period. Osaic Holdings Inc.’s holdings in Simon Property Group were worth $11,695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Clearstead Trust LLC purchased a new position in Simon Property Group during the 1st quarter valued at approximately $25,000. Cape Investment Advisory Inc. increased its position in Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Simon Property Group during the fourth quarter valued at $34,000. Indiana Trust & Investment Management CO bought a new position in Simon Property Group during the first quarter valued at $41,000. Finally, Rise Advisors LLC lifted its holdings in shares of Simon Property Group by 145.9% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.1 %

SPG traded down $1.69 during trading on Tuesday, hitting $156.05. The stock had a trading volume of 42,496 shares, compared to its average volume of 1,465,319. The stock has a 50 day simple moving average of $149.44 and a two-hundred day simple moving average of $147.53. The company has a market capitalization of $50.86 billion, a PE ratio of 20.09, a PEG ratio of 9.12 and a beta of 1.75. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $158.19.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business earned $2.74 EPS. On average, research analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $2.00 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SPG shares. Scotiabank raised their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.