Congress Wealth Management LLC DE Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

Congress Wealth Management LLC DE reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 25.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,362 shares of the real estate investment trust’s stock after selling 814 shares during the period. Congress Wealth Management LLC DE’s holdings in Simon Property Group were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Townsquare Capital LLC raised its holdings in Simon Property Group by 8.8% during the 3rd quarter. Townsquare Capital LLC now owns 27,125 shares of the real estate investment trust’s stock valued at $4,585,000 after buying an additional 2,191 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Simon Property Group by 477.2% in the third quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock valued at $16,978,000 after acquiring an additional 83,049 shares during the period. Blueshift Asset Management LLC bought a new position in shares of Simon Property Group during the third quarter valued at about $376,000. CreativeOne Wealth LLC boosted its holdings in shares of Simon Property Group by 128.0% during the third quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock worth $1,277,000 after purchasing an additional 4,241 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of Simon Property Group by 18.0% in the third quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust’s stock worth $9,028,000 after purchasing an additional 8,132 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Finally, Mizuho raised their target price 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.0 %

NYSE:SPG opened at $164.21 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm’s 50-day moving average price is $175.42 and its 200-day moving average price is $174.37. The company has a market capitalization of $53.58 billion, a PE ratio of 22.62, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

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 for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Simon Property Group 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.