Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 369,014 shares of the real estate investment trust’s stock after selling 24,985 shares during the quarter. Stifel Financial Corp’s holdings in Simon Property Group were worth $62,370,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. CWM LLC raised its position in shares of Simon Property Group by 21.7% during the 2nd quarter. CWM LLC now owns 9,080 shares of the real estate investment trust’s stock valued at $1,378,000 after acquiring an additional 1,621 shares in the last quarter. Simplicity Wealth LLC increased its stake in Simon Property Group by 1.8% during the second quarter. Simplicity Wealth LLC now owns 6,104 shares of the real estate investment trust’s stock valued at $927,000 after purchasing an additional 107 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the second quarter worth $25,000. Atlas Private Wealth Advisors bought a new position in shares of Simon Property Group in the 2nd quarter worth about $304,000. Finally, Peak Financial Advisors LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at about $2,980,000. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler restated a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $165.44.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.81 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $59.97 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 10.60 and a beta of 1.75. The stock’s 50 day moving average price is $175.34 and its 200 day moving average price is $162.19. Simon Property Group, Inc. has a 12 month low of $129.08 and a 12 month 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 (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. 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 prior year, the firm earned $3.20 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The stock was bought 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 directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.