Opinicus Capital Inc. Sells 177 Shares of Simon Property Group, Inc. (NYSE:SPG)

Opinicus Capital Inc. cut its position in Simon Property Group, Inc. (NYSE:SPG) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,521 shares of the real estate investment trust’s stock after selling 177 shares during the quarter. Opinicus Capital Inc.’s holdings in Simon Property Group were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPG. Renaissance Technologies LLC bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $364,000. Brookstone Capital Management lifted its stake in Simon Property Group by 8.6% in the 3rd quarter. Brookstone Capital Management now owns 21,170 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 1,678 shares during the last quarter. CWM LLC grew its holdings in Simon Property Group by 3.3% during the third quarter. CWM LLC now owns 9,382 shares of the real estate investment trust’s stock worth $1,586,000 after purchasing an additional 302 shares during the period. Wedmont Private Capital increased its position in Simon Property Group by 5.9% during the third quarter. Wedmont Private Capital now owns 6,511 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 361 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Simon Property Group by 7.1% during the third quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 154 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $180.01 on Friday. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $186.00. The company’s 50 day moving average price is $175.57 and its two-hundred day moving average price is $170.19. The firm has a market cap of $58.73 billion, a PE ratio of 24.79, a PEG ratio of 9.58 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.67%. Simon Property Group’s dividend payout ratio is 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Jefferies Financial Group upgraded 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 research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Finally, Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $175.10.

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.