Amalgamated Bank Lowers Position in Simon Property Group, Inc. (NYSE:SPG)

Amalgamated Bank decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,828 shares of the real estate investment trust’s stock after selling 1,465 shares during the quarter. Amalgamated Bank’s holdings in Simon Property Group were worth $10,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the 3rd quarter valued at approximately $834,000. First Hawaiian Bank lifted its holdings in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC boosted its position in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 10,644 shares during the period. Versant Capital Management Inc boosted its position in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions 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.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $183.69 on Wednesday. The firm has a market cap of $59.93 billion, a PE ratio of 25.30, a PEG ratio of 10.10 and a beta of 1.74. The stock has a 50 day moving average of $176.50 and a 200 day moving average of $173.25. 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 12 month low of $139.25 and a 12 month high of $188.13.

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

Simon Property Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

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

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.