Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Lessened by Forte Capital LLC ADV

Forte Capital LLC ADV trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,657 shares of the real estate investment trust’s stock after selling 70 shares during the quarter. Forte Capital LLC ADV’s holdings in Simon Property Group were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SPG. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the third quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the fourth quarter worth approximately $41,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter worth approximately $41,000. Eastern Bank acquired a new position in Simon Property Group in the third quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group in the fourth quarter worth approximately $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $175.10.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Down 1.5 %

Shares of Simon Property Group stock opened at $183.86 on Friday. The company’s fifty day simple moving average is $176.37 and its 200-day simple moving average is $172.60. The company has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.05 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13.

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

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

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.