Winslow Asset Management Inc. Has $7.29 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Winslow Asset Management Inc. cut its position in Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,104 shares of the real estate investment trust’s stock after selling 811 shares during the quarter. Simon Property Group makes up about 1.3% of Winslow Asset Management Inc.’s holdings, making the stock its 27th biggest position. Winslow Asset Management Inc.’s holdings in Simon Property Group were worth $7,286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the second quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group in the first quarter worth $26,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group in the second quarter worth $27,000. Finally, RFP Financial Group LLC increased its position in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPG. Mizuho increased their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank boosted their price target on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Trading Up 1.3 %

SPG stock opened at $181.34 on Tuesday. Simon Property Group, Inc. has a 1-year low of $113.46 and a 1-year high of $181.86. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20. The business’s 50 day moving average is $169.61 and its 200-day moving average is $157.93. The firm has a market cap of $59.12 billion, a P/E ratio of 24.15, a P/E/G ratio of 10.44 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $3.20 earnings per share. Equities analysts anticipate that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.63%. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Simon Property Group 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.