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

Logan Capital Management Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,272 shares of the real estate investment trust’s stock after selling 108 shares during the quarter. Logan Capital Management Inc.’s holdings in Simon Property Group were worth $167,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. CWM LLC grew its position in shares of Simon Property Group by 42.9% in the first quarter. CWM LLC now owns 2,137 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 642 shares during the period. CENTRAL TRUST Co increased its holdings in Simon Property Group by 18.8% in the first quarter. CENTRAL TRUST Co now owns 980 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 155 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Simon Property Group by 13.1% during the fourth quarter. MML Investors Services LLC now owns 15,673 shares of the real estate investment trust’s stock valued at $2,504,000 after purchasing an additional 1,812 shares during the last quarter. LPL Financial LLC boosted its position in shares of Simon Property Group by 6.9% during the fourth quarter. LPL Financial LLC now owns 214,724 shares of the real estate investment trust’s stock worth $34,306,000 after buying an additional 13,802 shares during the period. Finally, Alpha Cubed Investments LLC raised its position in Simon Property Group by 37.0% in the first quarter. Alpha Cubed Investments LLC now owns 5,023 shares of the real estate investment trust’s stock worth $661,000 after acquiring an additional 1,357 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Simon Property Group from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, August 29th. Jefferies Financial Group cut shares of Simon Property Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $160.00 to $100.00 in a research report on Thursday, June 30th. Truist Financial cut their price objective on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, August 15th. Compass Point cut their price objective on Simon Property Group from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Finally, Mizuho cut their price objective on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

Simon Property Group Trading Up 1.2 %

Shares of NYSE SPG opened at $103.77 on Monday. The stock has a market cap of $35.58 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.96 and a beta of 1.49. The business has a 50 day simple moving average of $104.35 and a 200 day simple moving average of $114.14. Simon Property Group, Inc. has a 52 week low of $93.06 and a 52 week high of $171.12. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02.

Simon Property Group (NYSE:SPGGet Rating) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.92 EPS. On average, research analysts predict that Simon Property Group, Inc. will post 11.66 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $1.75 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.70. The ex-dividend date is Thursday, September 8th. This represents a $7.00 annualized dividend and a dividend yield of 6.75%. Simon Property Group’s payout ratio is presently 109.20%.

Simon Property Group Company Profile

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Further Reading

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPGGet Rating).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.