Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 10,562 shares of the real estate investment trust’s stock after selling 569 shares during the period. Lincluden Management Ltd.’s holdings in Simon Property Group were worth $1,819,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. grew its stake in Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Simon Property Group by 1.7% in the third 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 buying an additional 25,519 shares during the last quarter. Principal Financial Group Inc. raised its stake in Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after buying an additional 98,366 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after buying an additional 993,694 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Trading Up 0.4 %

Shares of NYSE:SPG opened at $184.57 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company’s 50-day moving average price is $176.43 and its 200 day moving average price is $173.07. The company has a market cap of $60.22 billion, a PE ratio of 25.42, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.55%. Simon Property Group’s dividend payout ratio (DPR) is presently 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.