Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Black Swift Group LLC

Black Swift Group LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,035 shares of the real estate investment trust’s stock after selling 1,490 shares during the period. Black Swift Group LLC’s holdings in Simon Property Group were worth $2,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the first quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group in the 2nd quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the 2nd quarter valued at about $27,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group during the 3rd quarter valued at about $30,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.0 %

NYSE:SPG opened at $181.01 on Thursday. The business’s 50-day moving average is $170.18 and its two-hundred day moving average is $158.33. The firm has a market capitalization of $59.02 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 10.40 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $119.71 and a 12 month high of $182.84. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04.

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). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 EPS. Research analysts predict that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Insider Activity

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Mizuho upped their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Scotiabank lifted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus restated a “hold” rating and set a $159.00 price target (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 data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $162.78.

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.