Bruni J V & Co. Co. Sells 50,628 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bruni J V & Co. Co. reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 35.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,479 shares of the real estate investment trust’s stock after selling 50,628 shares during the quarter. Simon Property Group comprises 1.7% of Bruni J V & Co. Co.’s holdings, making the stock its 25th largest position. Bruni J V & Co. Co.’s holdings in Simon Property Group were worth $15,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the 1st quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group during the 2nd quarter valued at $27,000. RFP Financial Group LLC lifted its holdings in shares of Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 160 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $29,000. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 0.3 %

Shares of NYSE SPG opened at $180.85 on Tuesday. The firm has a market capitalization of $59.01 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 10.52 and a beta of 1.74. The firm has a fifty day simple moving average of $171.15 and a two-hundred day simple moving average of $159.25. Simon Property Group, Inc. has a 12 month low of $119.92 and a 12 month high of $182.84. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

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 (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during 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 business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $3.20 earnings per share. Equities analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share 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 issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.64%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SPG shares. Mizuho lifted their price target 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. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank increased 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 report on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

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.