Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Reduced by Foundry Partners LLC

Foundry Partners LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,378 shares of the real estate investment trust’s stock after selling 14,763 shares during the period. Simon Property Group makes up approximately 1.6% of Foundry Partners LLC’s holdings, making the stock its 9th biggest holding. Foundry Partners LLC’s holdings in Simon Property Group were worth $32,178,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SPG. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the 2nd quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter worth $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.2 %

SPG opened at $180.91 on Thursday. The business has a fifty day moving average price of $171.85 and a 200 day moving average price of $159.67. 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 12 month low of $119.92 and a 12 month high of $182.84. The stock has a market capitalization of $59.03 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 10.57 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $3.20 earnings per share. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 109.19%.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SPG has been the topic of several recent research reports. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho lifted their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Scotiabank boosted their price target 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 issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.78.

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.