Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,301 shares of the real estate investment trust’s stock after selling 6,535 shares during the period. Corient Private Wealth LLC’s holdings in Simon Property Group were worth $12,579,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC increased its position in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $41,000. Finally, Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $164.73 on Thursday. The business’s 50 day simple moving average is $176.50 and its 200-day simple moving average is $174.40. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced 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. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPG shares. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.33.

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.