Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 240,574 shares of the real estate investment trust’s stock after selling 5,869 shares during the period. Douglas Lane & Associates LLC’s holdings in Simon Property Group were worth $41,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter worth about $834,000. Red Cedar Investment Management LLC grew its holdings in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after acquiring an additional 10,644 shares during the period. TTP Investments Inc. increased its stake in Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares in the last quarter. Versant Capital Management Inc raised its holdings in Simon Property Group by 72.8% during 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 last quarter. Finally, Forte Capital LLC ADV purchased a new stake in Simon Property Group during the third quarter worth $630,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

SPG traded up $0.77 during trading on Wednesday, reaching $174.94. 652,658 shares of the company were exchanged, compared to its average volume of 1,407,540. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a 50 day moving average of $177.15 and a 200 day moving average of $166.59. The stock has a market cap of $57.08 billion, a P/E ratio of 23.29, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.20 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

Analyst Ratings Changes

Several research firms have recently issued reports on SPG. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Mizuho boosted 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. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $172.10.

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.