Simon Property Group, Inc. (NYSE:SPG) Holdings Trimmed by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 78.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,635 shares of the real estate investment trust’s stock after selling 6,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Simon Property Group were worth $282,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. ING Groep NV acquired a new stake in Simon Property Group during the 4th quarter worth about $6,746,000. Concurrent Investment Advisors LLC lifted its position in shares of Simon Property Group by 49.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 46,212 shares of the real estate investment trust’s stock worth $7,958,000 after purchasing an additional 15,325 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Simon Property Group by 29.3% during the fourth quarter. Handelsbanken Fonder AB now owns 194,846 shares of the real estate investment trust’s stock worth $33,554,000 after purchasing an additional 44,141 shares during the period. LMG Wealth Partners LLC purchased a new position in Simon Property Group during the fourth quarter valued at approximately $235,000. Finally, Ieq Capital LLC increased its stake in Simon Property Group by 10.4% in the 4th quarter. Ieq Capital LLC now owns 18,313 shares of the real estate investment trust’s stock valued at $3,154,000 after buying an additional 1,729 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Trading Down 1.5 %

Shares of Simon Property Group stock opened at $183.86 on Friday. The company’s fifty day moving average price is $176.37 and its two-hundred day moving average price is $172.60. The firm has a market capitalization of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 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.