Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,343 shares of the real estate investment trust’s stock after selling 939 shares during the period. Simon Property Group makes up about 1.1% of Janney Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Janney Capital Management LLC’s holdings in Simon Property Group were worth $16,622,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Optas LLC increased its stake in Simon Property Group by 31.9% during the 3rd quarter. Optas LLC now owns 1,765 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 427 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Simon Property Group by 46.5% during the third quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock valued at $470,000 after acquiring an additional 883 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Simon Property Group by 12.6% during the third quarter. Capital Advisors Inc. OK now owns 313,477 shares of the real estate investment trust’s stock worth $52,984,000 after acquiring an additional 35,155 shares during the last quarter. Jacobson & Schmitt Advisors LLC acquired a new position in shares of Simon Property Group in the third quarter worth about $203,000. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Simon Property Group by 1.9% in the third quarter. Cornerstone Wealth Group LLC now owns 22,665 shares of the real estate investment trust’s stock worth $3,831,000 after acquiring an additional 423 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.

Simon Property Group Trading Down 0.8 %

Simon Property Group stock opened at $167.70 on Friday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a 1 year low of $113.40 and a 1 year high of $177.08. The firm’s 50-day moving average is $168.55 and its 200-day moving average is $156.39. The company has a market cap of $54.68 billion, a P/E ratio of 21.31, a PEG ratio of 9.61 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.01%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPG. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Mizuho lifted their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $162.78.

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.