Crossmark Global Holdings Inc. Sells 3,999 Shares of Simon Property Group, Inc. (NYSE:SPG)

Crossmark Global Holdings Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,397 shares of the real estate investment trust’s stock after selling 3,999 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Simon Property Group were worth $6,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Simon Property Group during the third quarter valued at $30,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at about $42,000. Eastern Bank bought a new position in shares of Simon Property Group in the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC purchased a new position in shares of Simon Property Group in the third quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Simon Property Group by 107.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $172.10.

Simon Property Group Price Performance

SPG stock opened at $175.88 on Wednesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company’s fifty day moving average price is $177.05 and its 200-day moving average price is $168.15. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The company has a market capitalization of $57.39 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 9.33 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results 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 analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $3.20 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.78%. Simon Property Group’s payout ratio is presently 111.85%.

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.