SAM Advisors LLC Sells 408 Shares of Simon Property Group, Inc. (NYSE:SPG)

SAM Advisors LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,969 shares of the real estate investment trust’s stock after selling 408 shares during the period. Simon Property Group accounts for approximately 1.4% of SAM Advisors LLC’s portfolio, making the stock its 15th largest holding. SAM Advisors LLC’s holdings in Simon Property Group were worth $3,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Simon Property Group during the 2nd quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group during the 2nd quarter valued at about $27,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the third quarter worth about $30,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $179.22 on Thursday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.04 and a current ratio of 2.00. The company has a market capitalization of $58.43 billion, a P/E ratio of 23.86, a PEG ratio of 10.40 and a beta of 1.74. The stock has a 50 day moving average price of $170.18 and a two-hundred day moving average price of $158.33. Simon Property Group, Inc. has a fifty-two week low of $118.60 and a fifty-two week high of $182.84.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.20 EPS. Analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.69%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho boosted their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial boosted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.78.

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.