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

Inspire Investing LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,509 shares of the real estate investment trust’s stock after selling 882 shares during the quarter. Simon Property Group comprises about 0.6% of Inspire Investing LLC’s holdings, making the stock its 28th largest holding. Inspire Investing LLC’s holdings in Simon Property Group were worth $5,254,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP purchased a new stake in Simon Property Group in the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group during the 3rd quarter valued at about $42,000. Eastern Bank purchased a new stake in shares of Simon Property Group in the third quarter valued at about $42,000. Ashton Thomas Securities LLC acquired a new stake in Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.7 %

Shares of NYSE SPG opened at $172.90 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $56.41 billion, a PE ratio of 23.02, a PEG ratio of 9.43 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The stock has a fifty day simple moving average of $176.87 and a 200-day simple moving average of $168.40.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $3.20 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target of $172.10.

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.