Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.1% in the third quarter, HoldingsChannel.com reports. The firm owned 70,384 shares of the real estate investment trust’s stock after selling 6,166 shares during the period. Janney Montgomery Scott LLC’s holdings in Simon Property Group were worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Simon Property Group by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 3,626 shares during the last quarter. M&G Plc bought a new position in Simon Property Group in the first quarter worth about $4,654,000. TTP Investments Inc. boosted its stake in Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after acquiring an additional 10,147 shares during the period. Entropy Technologies LP bought a new position in shares of Simon Property Group during the first quarter valued at approximately $731,000. Finally, Natixis raised its position in shares of Simon Property Group by 14.9% during the 1st quarter. Natixis now owns 33,365 shares of the real estate investment trust’s stock worth $5,221,000 after purchasing an additional 4,319 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $162.78.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

NYSE SPG opened at $173.61 on Thursday. Simon Property Group, Inc. has a 12 month low of $113.40 and a 12 month high of $178.71. The firm has a market capitalization of $56.60 billion, a PE ratio of 23.12, a P/E/G ratio of 9.79 and a beta of 1.74. The company’s 50 day simple moving average is $168.89 and its 200 day simple moving average is $157.07. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last issued 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 firm had revenue of $1.48 billion for 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 earnings per share. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.83 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.84%. 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.