Duff & Phelps Investment Management Co. Decreases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Duff & Phelps Investment Management Co. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 25.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 853,872 shares of the real estate investment trust’s stock after selling 288,138 shares during the quarter. Simon Property Group makes up approximately 1.8% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 12th largest holding. Duff & Phelps Investment Management Co. owned 0.26% of Simon Property Group worth $147,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC lifted its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPG. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho increased 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. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $165.91 on Friday. The company has a 50-day simple moving average of $175.62 and a two-hundred day simple moving average of $174.36. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.

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%. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s 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.