Empowered Funds LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Empowered Funds LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,402 shares of the real estate investment trust’s stock after selling 2,408 shares during the quarter. Empowered Funds LLC’s holdings in Simon Property Group were worth $7,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Eastern Bank purchased a new position in shares of Simon Property Group in the third quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth approximately $45,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $52,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired 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 directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPG. 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 objective on the stock. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $175.10.

Simon Property Group Stock Up 0.3 %

Shares of NYSE SPG opened at $180.48 on Tuesday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $186.00. The company has a market capitalization of $58.89 billion, a P/E ratio of 24.86, a P/E/G ratio of 9.58 and a beta of 1.74. The company has a 50 day simple moving average of $175.50 and a 200-day simple moving average of $170.58. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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, equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.