Embree Financial Group Lowers Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Embree Financial Group cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,299 shares of the real estate investment trust’s stock after selling 216 shares during the quarter. Embree Financial Group’s holdings in Simon Property Group were worth $396,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPG. Jamison Private Wealth Management Inc. raised its position in Simon Property Group by 22.7% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,377 shares of the real estate investment trust’s stock worth $2,304,000 after acquiring an additional 2,478 shares during the period. TTP Investments Inc. raised its position in shares of Simon Property Group by 67.4% during the 4th quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust’s stock worth $9,885,000 after purchasing an additional 23,109 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Simon Property Group during the 4th quarter worth about $146,000. CX Institutional purchased a new position in Simon Property Group in the 4th quarter valued at about $233,000. Finally, Sound Income Strategies LLC boosted its holdings in Simon Property Group by 3.9% in the 4th quarter. Sound Income Strategies LLC now owns 105,709 shares of the real estate investment trust’s stock worth $18,204,000 after buying an additional 3,961 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost 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 of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $172.10.

Simon Property Group Stock Performance

NYSE:SPG opened at $174.42 on Friday. The company’s 50-day moving average is $176.69 and its two-hundred day moving average is $168.63. The firm has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 9.26 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 111.85%.

Simon Property Group Company 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.