Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Fmr LLC

Fmr LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 19.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,330,039 shares of the real estate investment trust’s stock after selling 1,038,256 shares during the quarter. Fmr LLC owned about 1.33% of Simon Property Group worth $731,863,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Simon Property Group by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after buying an additional 3,626 shares during the period. Red Cedar Investment Management LLC raised its position in shares of Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares during the period. TTP Investments Inc. raised its position in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares during the period. Forte Capital LLC ADV acquired a new stake in shares of Simon Property Group during the third quarter worth $630,000. Finally, Radnor Capital Management LLC acquired a new stake in shares of Simon Property Group during the third quarter worth $1,602,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.75 on Friday. Simon Property Group, Inc. has a 1-year low of $120.50 and a 1-year high of $186.00. The firm has a market capitalization of $59.95 billion, a PE ratio of 24.47, a PEG ratio of 10.51 and a beta of 1.74. The business’s 50 day moving average is $173.96 and its 200-day moving average is $161.04. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its 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 for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.20 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 109.19%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPG. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho raised their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Truist Financial raised their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.78.

Insider Buying and Selling

In related news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is owned by corporate insiders.

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.