Simon Property Group, Inc. (NYSE:SPG) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,532 shares of the real estate investment trust’s stock after selling 849 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Simon Property Group were worth $3,191,000 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. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank grew its position in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC increased its holdings in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after acquiring an additional 3,990 shares in the last quarter. 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 acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Piper Sandler upgraded 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 report on Wednesday, February 5th. Mizuho upped their price target 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. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $175.10.

Simon Property Group Trading Down 1.5 %

NYSE SPG opened at $183.86 on Monday. The company has a market capitalization of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. 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 firm’s fifty day simple moving average is $176.37 and its 200-day simple moving average is $172.86.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

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.