Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,838 shares of the real estate investment trust’s stock after selling 78 shares during the period. Johnson Investment Counsel Inc.’s holdings in Simon Property Group were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Simon Property Group by 3.8% in the 3rd quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 322 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the third quarter worth approximately $52,000. Venturi Wealth Management LLC increased its holdings in shares of Simon Property Group by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 622 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 88 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Simon Property Group by 9.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,701 shares of the real estate investment trust’s stock valued at $1,133,000 after acquiring an additional 599 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $159.12 on Friday. The firm has a market cap of $51.92 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The business has a fifty day simple moving average of $177.33 and a 200 day simple moving average of $174.43.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.28%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. 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. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $180.33.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.