Adell Harriman & Carpenter Inc. Decreases Position in Simon Property Group, Inc. (NYSE:SPG)

Adell Harriman & Carpenter Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,740 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Simon Property Group were worth $2,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the 3rd quarter worth $30,000. Synergy Asset Management LLC purchased a new position in Simon Property Group in the 4th quarter worth $41,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the 4th quarter worth $41,000. Eastern Bank purchased a new position in Simon Property Group in the 3rd quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Simon Property Group in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.6 %

Shares of SPG opened at $185.12 on Friday. The firm’s 50-day moving average price is $175.69 and its 200-day moving average price is $171.22. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 9.58 and a beta of 1.74. 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 1-year low of $139.25 and a 1-year high of $188.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.54%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

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

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

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.