Premier Path Wealth Partners LLC Sells 7,638 Shares of Simon Property Group, Inc. (NYSE:SPG)

Premier Path Wealth Partners LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 68.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,539 shares of the real estate investment trust’s stock after selling 7,638 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Simon Property Group were worth $609,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC purchased a new stake in Simon Property Group in the 3rd quarter valued at $42,000. Eastern Bank bought a new position in Simon Property Group during the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC purchased a new position in Simon Property Group during the 3rd quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $174.28 on Friday. The company has a market capitalization of $56.86 billion, a P/E ratio of 23.21, a P/E/G ratio of 9.16 and a beta of 1.75. The business has a fifty day simple moving average of $177.19 and a two-hundred day simple moving average of $167.69. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.20 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.74 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $172.10.

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.