International Assets Investment Management LLC Sells 271 Shares of Simon Property Group, Inc. (NYSE:SPG)

International Assets Investment Management LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,729 shares of the real estate investment trust’s stock after selling 271 shares during the quarter. International Assets Investment Management LLC’s holdings in Simon Property Group were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Norges Bank bought a new stake in Simon Property Group during the 4th quarter valued at $2,561,181,000. Charles Schwab Investment Management Inc. raised its holdings in Simon Property Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after buying an additional 72,645 shares during the last quarter. Boston Partners raised its holdings in Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Simon Property Group by 4.5% during the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after buying an additional 78,866 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the transaction, the director now owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research reports. Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Evercore ISI upped their price objective on shares of Simon Property Group from $157.00 to $160.00 and gave the stock an “in-line” rating in a report on Wednesday. Mizuho upped 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. Finally, Truist Financial upped their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.94.

Simon Property Group Stock Up 1.1 %

Shares of Simon Property Group stock opened at $167.35 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a 50-day moving average of $154.32 and a 200 day moving average of $150.50. The firm has a market cap of $54.56 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 9.17 and a beta of 1.75. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $169.18.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.90%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is 101.91%.

Simon Property Group 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.