Autumn Glory Partners LLC Sells 2,710 Shares of Simon Property Group, Inc. (NYSE:SPG)

Autumn Glory Partners LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,710 shares of the real estate investment trust's stock after selling 2,710 shares during the quarter. Autumn Glory Partners LLC's holdings in Simon Property Group were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Eastern Bank bought a new position in Simon Property Group in the 3rd quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in Simon Property Group in the fourth quarter worth about $45,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock traded down $0.16 on Wednesday, hitting $185.88. The company's stock had a trading volume of 783,141 shares, compared to its average volume of 1,303,497. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock's 50 day moving average is $175.91 and its 200-day moving average is $172.16. The company has a market capitalization of $60.65 billion, a PE ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results 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 net margin of 41.49% and a return on equity of 74.02%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.52%. Simon Property Group's payout ratio is 115.70%.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the company's stock in a transaction dated Monday, December 30th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $175.10.

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.