Glass Jacobson Investment Advisors llc Sells 75 Shares of Simon Property Group, Inc. (NYSE:SPG)

Glass Jacobson Investment Advisors llc lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,602 shares of the real estate investment trust’s stock after selling 75 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Simon Property Group were worth $440,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPG. MML Investors Services LLC lifted its stake in Simon Property Group by 7.1% in the 3rd quarter. MML Investors Services LLC now owns 62,739 shares of the real estate investment trust’s stock valued at $10,604,000 after acquiring an additional 4,144 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Simon Property Group by 13.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust’s stock valued at $1,714,000 after acquiring an additional 1,192 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in Simon Property Group by 5.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 10,860 shares of the real estate investment trust’s stock valued at $1,836,000 after acquiring an additional 586 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Simon Property Group by 28.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 413 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in Simon Property Group by 50.8% in the 3rd quarter. Insigneo Advisory Services LLC now owns 2,593 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 874 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SPG. Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $165.44.

Simon Property Group Stock Down 0.9 %

SPG stock opened at $182.14 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $59.43 billion, a PE ratio of 24.25, a PEG ratio of 10.75 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $132.24 and a 1-year high of $186.00. The business’s 50 day simple moving average is $175.92 and its 200 day simple moving average is $162.93.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.20 earnings per share. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared 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 is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.61%. Simon Property Group’s payout ratio is 109.19%.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.