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

Investors Research Corp reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 46.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,331 shares of the real estate investment trust’s stock after selling 5,456 shares during the quarter. Investors Research Corp’s holdings in Simon Property Group were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the second quarter worth $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group in the 1st quarter valued at about $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the 2nd quarter worth about $27,000. RFP Financial Group LLC increased its stake in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 160 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Simon Property Group during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction on Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $0.43 during trading hours on Thursday, reaching $180.48. The stock had a trading volume of 31,766 shares, compared to its average volume of 1,427,891. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a fifty-two week low of $119.92 and a fifty-two week high of $182.84. The firm has a 50-day moving average of $171.85 and a 200-day moving average of $159.67. The firm has a market cap of $58.89 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 10.57 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $3.20 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.65%. This is a positive change 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 (DPR) is 109.19%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPG shares. Mizuho raised their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven 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 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.