Del Sette Capital Management LLC Sells 520 Shares of Simon Property Group, Inc. (NYSE:SPG)

Del Sette Capital Management LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,063 shares of the real estate investment trust’s stock after selling 520 shares during the quarter. Simon Property Group accounts for approximately 1.7% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Del Sette Capital Management LLC’s holdings in Simon Property Group were worth $2,077,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Childress Capital Advisors LLC raised its holdings in shares of Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 58 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 59 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after buying an additional 62 shares during the period. Carnegie Investment Counsel boosted its position in Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Simon Property Group by 2.8% during the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock valued at $412,000 after acquiring an additional 66 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler upgraded shares of 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 research note on Wednesday, February 5th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $180.33.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Trading Down 1.4 %

NYSE:SPG opened at $162.12 on Friday. The company has a market capitalization of $52.90 billion, a P/E ratio of 22.33, 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. The firm has a fifty day simple moving average of $176.11 and a 200-day simple moving average of $174.37.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.18%. Simon Property Group’s dividend payout ratio is currently 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.