Stratos Wealth Partners LTD. lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,258 shares of the real estate investment trust’s stock after selling 557 shares during the period. Stratos Wealth Partners LTD.’s holdings in Simon Property Group were worth $261,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Simon Property Group by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust’s stock valued at $910,337,000 after acquiring an additional 765,146 shares in the last quarter. Cowa LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at about $107,000. Norges Bank bought a new position in shares of Simon Property Group in the 4th quarter valued at about $807,887,000. Morgan Stanley grew its holdings in shares of Simon Property Group by 6.9% in the 4th quarter. Morgan Stanley now owns 6,500,305 shares of the real estate investment trust’s stock valued at $763,656,000 after acquiring an additional 421,554 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Simon Property Group by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,605,067 shares of the real estate investment trust’s stock valued at $515,606,000 after acquiring an additional 126,585 shares in the last quarter. Institutional investors own 84.73% of the company’s stock.
Analyst Upgrades and Downgrades
SPG has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Simon Property Group from $130.00 to $139.00 in a report on Wednesday, July 12th. StockNews.com initiated coverage on Simon Property Group in a report on Thursday. They set a “hold” rating for the company. Truist Financial reduced their price target on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a report on Tuesday, August 29th. JPMorgan Chase & Co. reduced their price target on Simon Property Group from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. Finally, Wolfe Research upgraded Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price target for the company in a report on Wednesday, July 5th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.36.
Simon Property Group Stock Up 0.1 %
NYSE SPG opened at $104.54 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.67. Simon Property Group, Inc. has a 1-year low of $90.77 and a 1-year high of $133.08. The company has a 50 day moving average of $114.38 and a 200-day moving average of $112.26. The company has a market cap of $34.21 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 5.11 and a beta of 1.52.
Simon Property Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 7.27%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend was Thursday, September 7th. Simon Property Group’s payout ratio is presently 115.50%.
Insider Activity
In other news, Director Reuben S. Leibowitz acquired 580 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average cost of $110.04 per share, with a total value of $63,823.20. Following the completion of the purchase, the director now directly owns 49,727 shares of the company’s stock, valued at approximately $5,471,959.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Reuben S. Leibowitz acquired 580 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average cost of $110.04 per share, with a total value of $63,823.20. Following the completion of the purchase, the director now directly owns 49,727 shares of the company’s stock, valued at approximately $5,471,959.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian J. Mcdade acquired 359 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the completion of the purchase, the chief financial officer now directly owns 25,741 shares of the company’s stock, valued at $2,810,659.79. The disclosure for this purchase can be found here. 8.50% of the stock is owned by company insiders.
Simon Property Group Company Profile
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
Read More
- Five stocks we like better than Simon Property Group
- Retail Stocks Investing, Explained
- Huawei Has Entered The Chips Race, Markets Still Prefer These
- How to Buy Metaverse Stock Step by Step
- Restaurant Stocks Go on Sale…Which Are Really on the Value Menu?
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- 5 Reasons to Buy and Hold Exxon Mobil For 2024
Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG – Free Report).
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.
