American Assets Capital Advisers LLC Sells 29,659 Shares of Simon Property Group, Inc. (NYSE:SPG)

American Assets Capital Advisers LLC lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 71,072 shares of the real estate investment trust’s stock after selling 29,659 shares during the period. Simon Property Group makes up about 4.1% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 11th largest position. American Assets Capital Advisers LLC’s holdings in Simon Property Group were worth $12,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. one8zero8 LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $1,527,000. Natixis Advisors LLC boosted its position in Simon Property Group by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 197,248 shares of the real estate investment trust’s stock valued at $33,968,000 after purchasing an additional 11,293 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in Simon Property Group by 2.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 8,031 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 207 shares in the last quarter. Alpine Woods Capital Investors LLC increased its position in shares of Simon Property Group by 6.3% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 9,981 shares of the real estate investment trust’s stock worth $1,719,000 after purchasing an additional 594 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Simon Property Group during the 4th quarter worth approximately $141,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded 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. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $180.33.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the 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 purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Performance

NYSE:SPG opened at $161.13 on Friday. 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 stock has a 50 day simple moving average of $177.03 and a 200 day simple moving average of $174.43. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The stock has a market cap of $52.57 billion, a P/E ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.21%. Simon Property Group’s dividend payout ratio 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.