Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,961 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Howland Capital Management LLC’s holdings in Simon Property Group were worth $1,873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Coldstream Capital Management Inc. grew its position in Simon Property Group by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after acquiring an additional 77 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Simon Property Group by 16.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 80 shares during the last quarter. Cascade Investment Group Inc. boosted its stake in shares of Simon Property Group by 0.5% during the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after buying an additional 80 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in Simon Property Group by 2.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 81 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its stake in Simon Property Group by 1.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE:SPG traded up $0.31 during mid-day trading on Thursday, reaching $148.75. 1,384,541 shares of the stock were exchanged, compared to its average volume of 1,480,935. The business has a fifty day moving average price of $148.43 and a 200 day moving average price of $146.94. The firm has a market capitalization of $48.48 billion, a PE ratio of 18.95, a PEG ratio of 8.73 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business posted $2.74 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Research analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 5.38%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. Simon Property Group’s payout ratio is currently 101.91%.

Insider Activity

In other news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SPG. Truist Financial raised their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Argus raised their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Scotiabank raised their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.89.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.