Optimum Investment Advisors Cuts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Optimum Investment Advisors reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 6.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,779 shares of the real estate investment trust’s stock after selling 200 shares during the period. Optimum Investment Advisors’ holdings in Simon Property Group were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPG. Childress Capital Advisors LLC raised its stake in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. raised its position in Simon Property Group by 9.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 59 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 62 shares during the period. Carnegie Investment Counsel boosted its holdings in shares of Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 65 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Simon Property Group by 2.8% in the fourth quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 66 shares during the period. 93.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 1.4 %

NYSE SPG opened at $162.12 on Friday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $52.90 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The stock’s 50-day moving average price is $176.11 and its 200-day moving average price is $174.37.

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

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $180.33.

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.