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

Allstate Corp lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 33.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,742 shares of the real estate investment trust’s stock after selling 15,195 shares during the period. Allstate Corp’s holdings in Simon Property Group were worth $5,294,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Childress Capital Advisors LLC boosted its stake in shares of Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 58 shares during the period. Global X Japan Co. Ltd. increased its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 59 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 62 shares in the last quarter. Carnegie Investment Counsel boosted its position in Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Simon Property Group by 2.8% in the fourth quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPG. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Performance

NYSE:SPG opened at $164.21 on Friday. The firm has a market capitalization of $53.58 billion, a PE ratio of 22.62, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm’s fifty day simple moving average is $175.42 and its 200 day simple moving average is $174.37.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.12%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate 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.