Gilman Hill Asset Management LLC Sells 305 Shares of Simon Property Group, Inc. (NYSE:SPG)

Gilman Hill Asset Management LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,146 shares of the real estate investment trust’s stock after selling 305 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Simon Property Group were worth $886,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SPG. Capital Performance Advisors LLP bought a new stake in Simon Property Group in the third quarter worth $30,000. Trivant Custom Portfolio Group LLC bought a new stake in Simon Property Group in the third quarter worth $42,000. Eastern Bank bought a new stake in Simon Property Group in the third quarter worth $42,000. Ashton Thomas Securities LLC bought a new stake in shares of Simon Property Group during the third quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $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 the SEC website. 8.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Price Performance

SPG opened at $174.28 on Monday. The business’s 50-day moving average is $177.19 and its two-hundred day moving average is $167.83. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market capitalization of $56.86 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that Simon Property Group, Inc. will post 12.74 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.82%. The ex-dividend date was Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

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.