Howland Capital Management LLC Sells 169 Shares of Simon Property Group, Inc. (NYSE:SPG)

Howland Capital Management LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,342 shares of the real estate investment trust’s stock after selling 169 shares during the period. Howland Capital Management LLC’s holdings in Simon Property Group were worth $1,953,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Quotient Wealth Partners LLC grew its holdings in Simon Property Group by 5.6% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,806 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 95 shares during the period. Entropy Technologies LP bought a new stake in Simon Property Group during the fourth quarter valued at about $4,895,000. Wilmington Savings Fund Society FSB grew its holdings in Simon Property Group by 38.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,827 shares of the real estate investment trust’s stock valued at $1,176,000 after purchasing an additional 1,895 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Simon Property Group by 30.5% in the fourth quarter. Apollon Wealth Management LLC now owns 8,746 shares of the real estate investment trust’s stock valued at $1,506,000 after acquiring an additional 2,045 shares in the last quarter. Finally, Clientfirst Wealth Management LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at about $274,000. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Trading Down 0.1 %

Shares of NYSE SPG opened at $180.01 on Friday. The business’s 50 day moving average is $175.50 and its two-hundred day moving average is $170.34. 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, Inc. has a 1-year low of $139.25 and a 1-year high of $186.00. The stock has a market capitalization of $58.73 billion, a P/E ratio of 24.79, a PEG ratio of 9.58 and a beta of 1.74.

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 for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.67%. Simon Property Group’s payout ratio is currently 115.70%.

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.