Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Cut by CORDA Investment Management LLC.

CORDA Investment Management LLC. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 221,353 shares of the real estate investment trust’s stock after selling 7,601 shares during the quarter. Simon Property Group comprises 2.9% of CORDA Investment Management LLC.’s portfolio, making the stock its 11th largest holding. CORDA Investment Management LLC. owned about 0.07% of Simon Property Group worth $37,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of Simon Property Group during the 1st quarter valued at $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group during the 1st quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $27,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group during the 1st quarter valued at $29,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 0.2 %

NYSE SPG opened at $168.05 on Monday. Simon Property Group, Inc. has a 1-year low of $113.40 and a 1-year high of $177.08. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market capitalization of $54.79 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 9.61 and a beta of 1.74. The firm’s fifty day simple moving average is $168.55 and its 200-day simple moving average is $156.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.00%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 104.19%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $162.78.

Insiders Place Their Bets

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

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.