Davis Selected Advisers Trims Stake in Simon Property Group, Inc. (NYSE:SPG)

Davis Selected Advisers trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,720 shares of the real estate investment trust’s stock after selling 2,860 shares during the period. Davis Selected Advisers’ holdings in Simon Property Group were worth $13,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group in the 4th quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter worth $41,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 2.0 %

SPG opened at $170.97 on Friday. The firm has a 50-day simple moving average of $178.03 and a two-hundred day simple moving average of $174.40. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a market capitalization of $55.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Company 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.