Oppenheimer Asset Management Inc. Sells 906 Shares of Simon Property Group, Inc. (NYSE:SPG)

Oppenheimer Asset Management Inc. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,888 shares of the real estate investment trust’s stock after selling 906 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Simon Property Group were worth $2,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Childress Capital Advisors LLC increased its holdings in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 61 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its position in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 65 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 1.9 %

SPG stock opened at $186.13 on Monday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $60.73 billion, a P/E ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. The business’s 50-day moving average price is $177.31 and its 200-day moving average price is $173.86.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.44.

Simon Property Group Company 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.