Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,146 shares of the real estate investment trust’s stock after selling 305 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Simon Property Group were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group during the third quarter worth about $42,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the third quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.9 %

Shares of SPG stock opened at $174.28 on Monday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $56.86 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 9.16 and a beta of 1.75. The stock has a 50 day simple moving average of $177.19 and a 200-day simple moving average of $167.83. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $3.20 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research reports. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Mizuho boosted their price target on 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 raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average price target of $172.10.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% 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.