Amalgamated Bank Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

Amalgamated Bank decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,828 shares of the real estate investment trust’s stock after selling 1,465 shares during the period. Amalgamated Bank’s holdings in Simon Property Group were worth $10,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in Simon Property Group by 8.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after purchasing an additional 607 shares during the period. Allworth Financial LP grew its stake in shares of Simon Property Group by 16.0% during the third quarter. Allworth Financial LP now owns 1,310 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 181 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Simon Property Group by 9.8% in the third quarter. PFG Investments LLC now owns 3,676 shares of the real estate investment trust’s stock worth $621,000 after buying an additional 329 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Simon Property Group by 24.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 428 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 83 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Simon Property Group by 0.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 253,389 shares of the real estate investment trust’s stock valued at $42,185,000 after acquiring an additional 2,267 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $175.10.

Simon Property Group Trading Down 0.5 %

NYSE SPG opened at $183.69 on Wednesday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.13. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $59.93 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company’s 50-day simple moving average is $176.50 and its two-hundred day simple moving average is $173.25.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group Company 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.