Oliver Luxxe Assets LLC Sells 83 Shares of Simon Property Group, Inc. (NYSE:SPG)

Oliver Luxxe Assets LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,883 shares of the real estate investment trust’s stock after selling 83 shares during the period. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $5,727,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SPG. Clearstead Trust LLC bought a new position in shares of Simon Property Group during the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group during the second quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group during the first quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Finally, RFP Financial Group LLC increased its stake in shares of Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Up 1.8 %

Shares of SPG stock opened at $170.78 on Monday. The company has a market capitalization of $55.68 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 9.20 and a beta of 1.74. Simon Property Group, Inc. has a one year low of $104.05 and a one year high of $171.51. The company’s fifty day moving average price is $163.88 and its 200-day moving average price is $153.91. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 earnings per share. Sell-side analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Monday, September 9th. Simon Property Group’s payout ratio is currently 104.19%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Piper Sandler reiterated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Mizuho raised their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Scotiabank raised their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $162.78.

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.