Schechter Investment Advisors LLC Sells 124 Shares of Simon Property Group, Inc. (NYSE:SPG)

Schechter Investment Advisors LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,805 shares of the real estate investment trust’s stock after selling 124 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Simon Property Group were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Childress Capital Advisors LLC increased its stake in Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. increased its stake in Simon Property Group by 9.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 59 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares during the last quarter. Bleakley Financial Group LLC increased its stake in Simon Property Group by 1.0% in the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel increased its stake in Simon Property Group by 4.3% in the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The stock was acquired 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 $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $183.30 on Wednesday. The stock’s fifty day moving average is $177.83 and its two-hundred day moving average is $174.25. The company has a market capitalization of $59.81 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate 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, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

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.