Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 35.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,766 shares of the real estate investment trust’s stock after selling 957 shares during the period. Stratos Wealth Partners LTD.’s holdings in Simon Property Group were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Alpha Cubed Investments LLC lifted its holdings in shares of Simon Property Group by 16.5% in the 1st quarter. Alpha Cubed Investments LLC now owns 4,136 shares of the real estate investment trust’s stock worth $687,000 after acquiring an additional 585 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Simon Property Group by 18.8% during the 1st quarter. TD Private Client Wealth LLC now owns 1,895 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 300 shares in the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Simon Property Group by 22.3% during the first quarter. Capital Advisors Inc. OK now owns 391,692 shares of the real estate investment trust’s stock worth $65,052,000 after buying an additional 71,456 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Simon Property Group by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 318,803 shares of the real estate investment trust’s stock worth $52,947,000 after buying an additional 21,227 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Simon Property Group by 6.3% in the first quarter. Penserra Capital Management LLC now owns 9,290 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 551 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 246 shares of the business’s stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the purchase, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 234 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,386 shares of company stock worth $380,066 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG opened at $159.95 on Wednesday. The company has a market capitalization of $52.21 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 10.95 and a beta of 1.43. The business has a 50-day moving average of $161.34 and a 200-day moving average of $165.92. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm earned $3.56 earnings per share. Simon Property Group’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Monday, June 9th. Simon Property Group’s payout ratio is currently 133.76%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPG. Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.50.

Simon Property Group 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.