Morningstar Investment Management LLC Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

Morningstar Investment Management LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,123 shares of the real estate investment trust’s stock after selling 212 shares during the period. Morningstar Investment Management LLC’s holdings in Simon Property Group were worth $882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC boosted its holdings in shares of Simon Property Group by 49.6% in the 4th 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 stake in Simon Property Group by 29.3% in the fourth quarter. Handelsbanken Fonder AB now owns 194,846 shares of the real estate investment trust’s stock worth $33,554,000 after buying an additional 44,141 shares in the last quarter. LMG Wealth Partners LLC purchased a new stake in Simon Property Group in the fourth quarter worth approximately $235,000. Ieq Capital LLC raised its stake in shares of Simon Property Group by 10.4% during the fourth quarter. Ieq Capital LLC now owns 18,313 shares of the real estate investment trust’s stock worth $3,154,000 after acquiring an additional 1,729 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Simon Property Group by 6.5% during the fourth quarter. Private Advisor Group LLC now owns 32,092 shares of the real estate investment trust’s stock worth $5,527,000 after acquiring an additional 1,959 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Simon Property Group Stock Down 0.1 %

Shares of NYSE SPG opened at $185.88 on Thursday. The firm has a fifty day simple moving average of $176.10 and a two-hundred day simple moving average of $172.25. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market capitalization of $60.65 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 10.06 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results 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%. Equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share 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. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.52%. Simon Property Group’s payout ratio is 115.70%.

Insiders Place Their Bets

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. 8.50% of the stock is owned by corporate insiders.

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.