Black Swift Group LLC Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Black Swift Group LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 41.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,060 shares of the real estate investment trust’s stock after selling 4,975 shares during the period. Black Swift Group LLC’s holdings in Simon Property Group were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Childress Capital Advisors LLC lifted its position in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. lifted its holdings in shares of Simon Property Group by 9.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 61 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Simon Property Group by 1.0% in the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 62 shares during the period. Finally, Carnegie Investment Counsel lifted its holdings in shares of Simon Property Group by 4.3% in the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 65 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price objective 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. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Simon Property Group Stock Performance

Simon Property Group stock opened at $183.49 on Thursday. 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 stock has a fifty day moving average of $178.03 and a two-hundred day moving average of $174.32. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG 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 released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

About Simon Property Group

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.