Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,738 shares of the real estate investment trust’s stock after selling 3,369 shares during the period. Mutual of America Capital Management LLC’s holdings in Simon Property Group were worth $6,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC boosted its stake in shares of Simon Property Group by 1.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,338 shares of the real estate investment trust’s stock worth $1,461,000 after purchasing an additional 121 shares during the last quarter. Covestor Ltd boosted its position in Simon Property Group by 58.9% during the first quarter. Covestor Ltd now owns 259 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 96 shares during the last quarter. InterOcean Capital Group LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $219,000. Natixis raised its holdings in Simon Property Group by 14.9% in the 1st quarter. Natixis now owns 33,365 shares of the real estate investment trust’s stock valued at $5,221,000 after acquiring an additional 4,319 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SPG shares. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Mizuho increased their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Scotiabank upped their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Price Performance

Simon Property Group stock opened at $181.21 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $59.13 billion, a P/E ratio of 24.13, a PEG ratio of 10.52 and a beta of 1.74. The firm has a fifty day moving average of $171.50 and a 200-day moving average of $159.52. Simon Property Group, Inc. has a 52-week low of $119.92 and a 52-week high of $182.84.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.20 earnings per share. As a group, analysts predict that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.64%. Simon Property Group’s payout ratio is 109.19%.

About Simon Property Group

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.