Edgestream Partners L.P. Trims Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Edgestream Partners L.P. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 46.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,784 shares of the real estate investment trust’s stock after selling 26,044 shares during the period. Edgestream Partners L.P.’s holdings in Simon Property Group were worth $5,129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SPG. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group during the 4th quarter valued at about $30,000. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the third quarter valued at about $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $41,000. Finally, Synergy Asset Management LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction 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 completion of the transaction, the director now 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 document filed with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $170.97 on Friday. The stock has a market capitalization of $55.78 billion, a P/E ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The stock has a 50-day moving average price of $178.03 and a 200-day moving average price of $174.40.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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 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 annualized dividend and a yield of 4.91%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

A number of research firms recently weighed in on SPG. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $178.44.

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.