Los Angeles Capital Management LLC Has $190.56 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,106,530 shares of the real estate investment trust’s stock after selling 153,118 shares during the period. Simon Property Group comprises about 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $190,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the third quarter valued at about $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter valued at about $41,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $41,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

SPG opened at $184.57 on Tuesday. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The firm has a market capitalization of $60.22 billion, a PE ratio of 25.42, a PEG ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The business’s 50-day simple moving average is $176.43 and its 200 day simple moving average is $173.07.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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 expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.55%. Simon Property Group’s dividend payout ratio is 115.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $175.10.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.