Fmr LLC Sells 1,038,256 Shares of Simon Property Group, Inc. (NYSE:SPG)

Fmr LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 19.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,330,039 shares of the real estate investment trust’s stock after selling 1,038,256 shares during the quarter. Fmr LLC’s holdings in Simon Property Group were worth $731,863,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its position in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after acquiring an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after acquiring an additional 633,072 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Simon Property Group by 16,795.2% during the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after acquiring an additional 421,560 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Simon Property Group by 250.7% during the third quarter. KBC Group NV now owns 325,704 shares of the real estate investment trust’s stock worth $55,051,000 after acquiring an additional 232,840 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank lifted their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Stock Up 0.2 %

NYSE:SPG opened at $183.75 on Friday. Simon Property Group, Inc. has a 1 year low of $120.50 and a 1 year high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $59.95 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 10.51 and a beta of 1.74. The stock has a 50-day moving average price of $173.96 and a two-hundred day moving average price of $161.04.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm posted $3.20 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is 109.19%.

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.