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

Fiduciary Group LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,273 shares of the real estate investment trust’s stock after selling 441 shares during the period. Fiduciary Group LLC’s holdings in Simon Property Group were worth $4,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group during the 3rd quarter worth $834,000. First Hawaiian Bank lifted its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in Simon Property Group in the 4th quarter worth $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

NYSE SPG opened at $164.73 on Thursday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $53.75 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a 50-day moving average price of $176.50 and a two-hundred day moving average price of $174.40.

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

Simon Property Group Announces Dividend

The business 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 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPG. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.33.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

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.