Global Retirement Partners LLC Sells 69 Shares of Simon Property Group, Inc. (NYSE:SPG)

Global Retirement Partners LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,468 shares of the real estate investment trust’s stock after selling 69 shares during the quarter. Global Retirement Partners LLC’s holdings in Simon Property Group were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SPG. Assenagon Asset Management S.A. lifted its position in shares of Simon Property Group by 8.6% during the third quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock valued at $1,293,000 after buying an additional 607 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Simon Property Group by 16.0% in the third quarter. Allworth Financial LP now owns 1,310 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 181 shares during the period. PFG Investments LLC raised its position in Simon Property Group by 9.8% during the 3rd quarter. PFG Investments LLC now owns 3,676 shares of the real estate investment trust’s stock worth $621,000 after buying an additional 329 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Simon Property Group by 24.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 428 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 83 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Simon Property Group by 0.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 253,389 shares of the real estate investment trust’s stock valued at $42,185,000 after purchasing an additional 2,267 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $183.69 on Wednesday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The business’s 50-day simple moving average is $176.50 and its 200-day simple moving average is $173.25. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $59.93 billion, a P/E ratio of 25.30, a P/E/G ratio of 10.10 and a beta of 1.74.

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, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report 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 MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by company insiders.

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.