Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,418 shares of the real estate investment trust’s stock after selling 531 shares during the quarter. Securian Asset Management Inc.’s holdings in Simon Property Group were worth $2,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SPG. Assetmark Inc. boosted its holdings in Simon Property Group by 3.8% in the 3rd quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust’s stock valued at $1,482,000 after purchasing an additional 322 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the 3rd quarter valued at about $52,000. Venturi Wealth Management LLC boosted its holdings in Simon Property Group by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 622 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 88 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Simon Property Group by 9.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,701 shares of the real estate investment trust’s stock valued at $1,133,000 after purchasing an additional 599 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Simon Property Group by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Trading Up 1.5 %

Shares of NYSE:SPG opened at $165.95 on Thursday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company’s 50 day moving average is $177.62 and its two-hundred day moving average is $174.54. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $54.15 billion, a PE ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

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.