Simon Property Group, Inc. (NYSE:SPG) Stock Position Reduced by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,249 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Moors & Cabot Inc.’s holdings in Simon Property Group were worth $211,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after purchasing an additional 3,626 shares during the last quarter. Red Cedar Investment Management LLC lifted its holdings in shares of Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares during the last quarter. TTP Investments Inc. grew its stake in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after buying an additional 10,147 shares in the last quarter. Forte Capital LLC ADV acquired a new position in Simon Property Group in the third quarter worth approximately $630,000. Finally, Radnor Capital Management LLC bought a new position in Simon Property Group during the third quarter valued at approximately $1,602,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SPG shares. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Scotiabank boosted their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Performance

SPG opened at $181.14 on Monday. Simon Property Group, Inc. has a 12-month low of $119.92 and a 12-month high of $183.96. The firm has a market capitalization of $59.10 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 10.61 and a beta of 1.74. The stock’s 50 day moving average price is $172.55 and its two-hundred day moving average price is $160.25. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $3.20 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.64%. Simon Property Group’s dividend payout ratio is 109.19%.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.