Simon Property Group, Inc. (NYSE:SPG) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,387 shares of the real estate investment trust’s stock after selling 8,027 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Simon Property Group were worth $9,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. boosted its holdings in Simon Property Group by 301.7% in the third quarter. Edgestream Partners L.P. now owns 55,828 shares of the real estate investment trust’s stock valued at $9,436,000 after purchasing an additional 41,929 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Simon Property Group by 295.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the period. Fred Alger Management LLC boosted its stake in shares of Simon Property Group by 4.0% in the third quarter. Fred Alger Management LLC now owns 30,837 shares of the real estate investment trust’s stock worth $5,212,000 after buying an additional 1,178 shares during the last quarter. William Allan Corp grew its holdings in Simon Property Group by 14.4% during the third quarter. William Allan Corp now owns 1,928 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 243 shares during the period. Finally, Icon Wealth Advisors LLC grew its holdings in Simon Property Group by 14.9% during the third quarter. Icon Wealth Advisors LLC now owns 1,646 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.1 %

Shares of Simon Property Group stock opened at $183.60 on Monday. Simon Property Group, Inc. has a twelve month low of $122.50 and a twelve month high of $186.00. The firm’s 50-day moving average price is $174.30 and its 200 day moving average price is $161.46. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $59.91 billion, a PE ratio of 24.45, a P/E/G ratio of 10.72 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its earnings results 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 net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $3.20 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is 109.19%.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Mizuho increased their price target on shares of 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 price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Stifel Nicolaus reiterated 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. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven 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 has a consensus rating of “Hold” and an average price target of $162.78.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group 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.