Schechter Investment Advisors LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Schechter Investment Advisors LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,805 shares of the real estate investment trust’s stock after selling 124 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Simon Property Group were worth $655,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after purchasing an additional 993,694 shares during the last quarter. Hamlin Capital Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth $109,403,000. Mizuho Securities USA LLC lifted its stake in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPG shares. Piper Sandler upgraded 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 note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and an average price target of $178.44.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 2.4 %

Shares of SPG stock opened at $183.30 on Wednesday. The stock’s 50-day simple moving average is $177.83 and its 200-day simple moving average is $174.25. 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 firm has a market capitalization of $59.81 billion, a PE ratio of 25.25, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

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.