Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Del Sette Capital Management LLC

Del Sette Capital Management LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,063 shares of the real estate investment trust’s stock after selling 520 shares during the period. Simon Property Group comprises about 1.7% of Del Sette Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Del Sette Capital Management LLC’s holdings in Simon Property Group were worth $2,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter worth about $30,000. TCTC Holdings LLC purchased a new position in Simon Property Group during the fourth quarter worth approximately $34,000. Finally, Synergy Asset Management LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $41,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPG. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.33.

Simon Property Group Stock Down 1.4 %

SPG stock opened at $162.12 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a 50-day moving average of $176.11 and a two-hundred day moving average of $174.37. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The company has a market cap of $52.90 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78.

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, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.18%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

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.