Embree Financial Group Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Embree Financial Group lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,299 shares of the real estate investment trust’s stock after selling 216 shares during the quarter. Embree Financial Group’s holdings in Simon Property Group were worth $396,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the third quarter valued at $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group during the third quarter worth about $42,000. Eastern Bank purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $42,000. Ashton Thomas Securities LLC acquired a new stake in Simon Property Group in the third quarter valued at approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Simon Property Group by 107.5% in 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 acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Mizuho raised their target price 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. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Trading Down 0.3 %

SPG opened at $174.42 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The business’s 50 day moving average is $176.69 and its two-hundred day moving average is $168.63. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $3.20 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.82%. 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 payout ratio is 111.85%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction on 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 purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is owned by company insiders.

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.