Condor Capital Management Sells 751 Shares of Simon Property Group, Inc. (NYSE:SPG)

Condor Capital Management cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,132 shares of the real estate investment trust’s stock after selling 751 shares during the quarter. Condor Capital Management’s holdings in Simon Property Group were worth $4,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Childress Capital Advisors LLC boosted its stake in shares of Simon Property Group by 3.6% in the fourth 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. raised its holdings in shares of 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 valued at $113,000 after buying an additional 59 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of 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 valued at $1,074,000 after buying an additional 62 shares during the period. Carnegie Investment Counsel raised its position 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 valued at $270,000 after purchasing an additional 65 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Simon Property Group by 2.8% in the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 66 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Simon Property Group has an average rating of “Hold” and an average price target of $180.33.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $164.73 on Thursday. 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. The business has a 50 day simple moving average of $176.50 and a 200 day simple moving average of $174.40.

Simon Property Group (NYSE:SPG) last released 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%. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

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.