Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Investors Research Corp

Investors Research Corp decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,688 shares of the real estate investment trust’s stock after selling 643 shares during the period. Investors Research Corp’s holdings in Simon Property Group were worth $980,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. WR Wealth Planners LLC boosted its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed 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. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Stock Performance

SPG stock opened at $170.97 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market cap of $55.78 billion, a P/E ratio of 23.55, a P/E/G ratio of 10.10 and a beta of 1.78. The firm has a 50 day simple moving average of $178.03 and a 200 day simple moving average of $174.60. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

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.