Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Mather Group LLC.

Mather Group LLC. cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,356 shares of the real estate investment trust’s stock after selling 104 shares during the period. Mather Group LLC.’s holdings in Simon Property Group were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth about $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the third quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of 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 worth $70,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 3.3 %

Shares of Simon Property Group stock opened at $179.02 on Thursday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $137.25 and a 1 year high of $186.00. The company has a market capitalization of $58.41 billion, a P/E ratio of 23.84, a P/E/G ratio of 9.31 and a beta of 1.74. The business has a 50 day moving average price of $175.74 and a 200 day moving average price of $170.06.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.69%. Simon Property Group’s dividend payout ratio is currently 111.85%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Piper Sandler raised 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. Jefferies Financial Group raised 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. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $175.10.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction 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 acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

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.