Edgestream Partners L.P. Sells 26,044 Shares of Simon Property Group, Inc. (NYSE:SPG)

Edgestream Partners L.P. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 46.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,784 shares of the real estate investment trust’s stock after selling 26,044 shares during the period. Edgestream Partners L.P.’s holdings in Simon Property Group were worth $5,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. WR Wealth Planners LLC increased its position in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth $30,000. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at $41,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group during the fourth quarter valued at $41,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 2.0 %

NYSE SPG opened at $170.97 on Friday. The business has a fifty day simple moving average of $178.03 and a 200 day simple moving average of $174.40. The firm has a market capitalization of $55.78 billion, a P/E ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 4.91%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho raised 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 report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $178.44.

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.