Heitman Real Estate Securities LLC Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Heitman Real Estate Securities LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.1% in the third quarter, HoldingsChannel.com reports. The firm owned 452,323 shares of the real estate investment trust’s stock after selling 24,441 shares during the period. Simon Property Group comprises about 4.2% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 5th largest holding. Heitman Real Estate Securities LLC’s holdings in Simon Property Group were worth $76,452,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Simon Property Group during the 2nd quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new position in Simon Property Group during the second quarter worth about $27,000. RFP Financial Group LLC grew its position in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Simon Property Group in the 2nd quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter valued at approximately $30,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial upped their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Scotiabank lifted their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

Simon Property Group stock opened at $181.39 on Tuesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $59.18 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 10.72 and a beta of 1.75. The company’s 50 day simple moving average is $174.30 and its 200-day simple moving average is $161.46. Simon Property Group, Inc. has a 1 year low of $127.60 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last posted its earnings results 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.63%. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.60% 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.