D.A. Davidson & CO. Sells 440 Shares of Simon Property Group, Inc. (NYSE:SPG)

D.A. Davidson & CO. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,350 shares of the real estate investment trust’s stock after selling 440 shares during the quarter. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $4,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Smead Capital Management Inc. lifted its position in shares of Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares during the period. Boston Partners raised its stake in Simon Property Group by 4.2% in the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after buying an additional 92,648 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Simon Property Group by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after buying an additional 25,519 shares during the period. Los Angeles Capital Management LLC boosted its position in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares in the last quarter. Finally, PGGM Investments grew its holdings in shares of Simon Property Group by 1.9% during the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after acquiring an additional 23,186 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPG. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $183.75 on Thursday. The stock’s fifty day moving average is $173.63 and its 200 day moving average is $160.88. Simon Property Group, Inc. has a one year low of $120.50 and a one year high of $186.00. 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 stock has a market cap of $59.95 billion, a P/E ratio of 24.47, a P/E/G ratio of 10.51 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted 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). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $3.20 EPS. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio is 109.19%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is 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.