Hartford Investment Management Co. Has $3.27 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Hartford Investment Management Co. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,012 shares of the real estate investment trust’s stock after selling 297 shares during the quarter. Hartford Investment Management Co.’s holdings in Simon Property Group were worth $3,274,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Capital Advisors Inc. OK lifted its holdings in shares of Simon Property Group by 2.2% during the 4th quarter. Capital Advisors Inc. OK now owns 320,236 shares of the real estate investment trust’s stock valued at $55,148,000 after purchasing an additional 6,759 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Simon Property Group by 45.5% during the 4th quarter. Quent Capital LLC now owns 502 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 157 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at about $45,000. Sapient Capital LLC lifted its holdings in shares of Simon Property Group by 0.3% during the 4th quarter. Sapient Capital LLC now owns 205,035 shares of the real estate investment trust’s stock valued at $35,309,000 after purchasing an additional 667 shares in the last quarter. Finally, Soltis Investment Advisors LLC lifted its holdings in shares of Simon Property Group by 1.2% during the 4th quarter. Soltis Investment Advisors LLC now owns 23,210 shares of the real estate investment trust’s stock valued at $3,997,000 after purchasing an additional 279 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction 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 Upgrades and Downgrades

SPG has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Trading Down 0.3 %

NYSE SPG opened at $183.76 on Thursday. The stock has a market capitalization of $59.96 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 9.58 and a beta of 1.74. The stock’s 50 day moving average price is $175.56 and its two-hundred day moving average price is $171.03. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

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.