Harbor Investment Advisory LLC Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Harbor Investment Advisory LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 31.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,453 shares of the real estate investment trust’s stock after selling 665 shares during the period. Harbor Investment Advisory LLC’s holdings in Simon Property Group were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. UMB Bank n.a. boosted its stake in shares of Simon Property Group by 2.8% in 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 purchasing an additional 66 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $263,000. Diversify Wealth Management LLC boosted its stake in shares of Simon Property Group by 2.5% in the 4th quarter. Diversify Wealth Management LLC now owns 3,035 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 74 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $24,708,000. Finally, HB Wealth Management LLC boosted its stake in shares of Simon Property Group by 14.0% in the 4th quarter. HB Wealth Management LLC now owns 5,851 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.7 %

Shares of NYSE SPG opened at $172.90 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The firm has a market capitalization of $56.41 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 9.33 and a beta of 1.75. The firm has a fifty day simple moving average of $177.00 and a two-hundred day simple moving average of $168.36.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $3.20 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts expect that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.86%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.10.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by company insiders.

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.