Simon Property Group, Inc. (NYSE:SPG) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,739 shares of the real estate investment trust’s stock after selling 999 shares during the period. Mutual of America Capital Management LLC’s holdings in Simon Property Group were worth $6,327,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the third quarter worth about $30,000. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the 4th quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $45,000. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $187.60 on Tuesday. The company has a 50-day moving average price of $177.63 and a two-hundred day moving average price of $174.07. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a market cap of $61.21 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on 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. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and an average target price of $178.44.

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.