Janney Capital Management LLC Sells 21,220 Shares of Simon Property Group, Inc. (NYSE:SPG)

Janney Capital Management LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.6% during the fourth quarter, Holdings Channel reports. The fund owned 77,123 shares of the real estate investment trust’s stock after selling 21,220 shares during the period. Janney Capital Management LLC’s holdings in Simon Property Group were worth $13,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the third quarter worth $30,000. Trivant Custom Portfolio Group LLC bought a new position in shares of Simon Property Group in the third quarter worth about $42,000. Eastern Bank acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the 3rd quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was bought at an average cost 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. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $174.40 on Wednesday. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $56.90 billion, a PE ratio of 23.22, a P/E/G ratio of 9.33 and a beta of 1.75. The business’s 50-day moving average price is $177.00 and its two-hundred day moving average price is $168.36.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for 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 company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.20 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPG. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Finally, Mizuho upped their target price 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. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $172.10.

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.