Premier Path Wealth Partners LLC Sells 7,638 Shares of Simon Property Group, Inc. (NYSE:SPG)

Premier Path Wealth Partners LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 68.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,539 shares of the real estate investment trust’s stock after selling 7,638 shares during the period. Premier Path Wealth Partners LLC’s holdings in Simon Property Group were worth $609,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SPG. InTrack Investment Management Inc increased its holdings in Simon Property Group by 54.6% in the 4th quarter. InTrack Investment Management Inc now owns 4,743 shares of the real estate investment trust’s stock worth $823,000 after purchasing an additional 1,675 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $416,000. Avanza Fonder AB bought a new position in Simon Property Group in the 4th quarter valued at approximately $4,229,000. Ritholtz Wealth Management boosted its position in Simon Property Group by 12.4% during the 4th quarter. Ritholtz Wealth Management now owns 11,068 shares of the real estate investment trust’s stock worth $1,906,000 after buying an additional 1,217 shares during the period. Finally, Carnegie Investment Counsel grew its holdings in Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Up 0.9 %

Shares of SPG stock opened at $174.28 on Friday. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a 50 day simple moving average of $177.19 and a two-hundred day simple moving average of $167.69. The company has a market cap of $56.86 billion, a P/E ratio of 23.21, a PEG ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.20 EPS. Research analysts forecast that Simon Property Group, Inc. will post 12.74 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was 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 dividend yield of 4.82%. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SPG shares. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $172.10.

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.