Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 975 shares of the real estate investment trust’s stock after selling 375 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Simon Property Group were worth $168,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Childress Capital Advisors LLC grew its stake in Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. boosted its stake in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 59 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 61 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 62 shares during the last quarter. Finally, Inspire Advisors LLC boosted its stake in Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.3 %

NYSE:SPG opened at $180.48 on Tuesday. The stock has a fifty day moving average price of $175.50 and a two-hundred day moving average price of $170.58. The stock has a market capitalization of $58.89 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $175.10.

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.