Victory Capital Management Inc. Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

Victory Capital Management Inc. reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.4% in the fourth quarter, HoldingsChannel reports. The fund owned 213,281 shares of the real estate investment trust’s stock after selling 14,495 shares during the period. Victory Capital Management Inc.’s holdings in Simon Property Group were worth $36,729,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank raised its holdings in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its holdings in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after buying an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in Simon Property Group in the fourth quarter worth about $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

SPG opened at $170.97 on Monday. The firm has a market cap of $55.78 billion, a P/E ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company has a 50 day simple moving average of $178.03 and a two-hundred day simple moving average of $174.60. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $178.44.

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.