Duff & Phelps Investment Management Co. Sells 288,138 Shares of Simon Property Group, Inc. (NYSE:SPG)

Duff & Phelps Investment Management Co. lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 25.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 853,872 shares of the real estate investment trust’s stock after selling 288,138 shares during the period. Simon Property Group comprises 1.8% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 12th largest position. Duff & Phelps Investment Management Co.’s holdings in Simon Property Group were worth $147,045,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC increased its stake 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 valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the fourth quarter valued at $34,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

SPG stock opened at $165.91 on Friday. The firm’s 50-day moving average price is $175.62 and its two-hundred day moving average price is $174.36. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.33.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.