Moors & Cabot Inc. Has $211,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Moors & Cabot Inc. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,249 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Moors & Cabot Inc.’s holdings in Simon Property Group were worth $211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 position in Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter valued at $27,000. RFP Financial Group LLC increased its stake in shares of Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 160 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group during the first quarter worth $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPG shares. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Scotiabank boosted their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho raised their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The acquisition 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 owned by company insiders.

Simon Property Group Trading Down 0.4 %

Shares of NYSE SPG opened at $181.14 on Monday. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96. The stock has a market cap of $59.10 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 10.61 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company’s fifty day moving average is $172.55 and its 200-day moving average is $160.25.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $3.20 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.64%. Simon Property Group’s payout ratio 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.