Valeo Financial Advisors LLC Sells 1,188 Shares of Simon Property Group, Inc. (NYSE:SPG)

Valeo Financial Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,256 shares of the real estate investment trust’s stock after selling 1,188 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Simon Property Group were worth $1,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group in the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $41,000. Eastern Bank bought a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $45,000. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $185.12 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market cap of $60.40 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74. The stock’s fifty day moving average price is $175.72 and its two-hundred day moving average price is $171.45. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Mizuho upped their price objective 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. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target 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.