Bamco Inc. NY Lowers Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Bamco Inc. NY decreased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 39.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,141 shares of the real estate investment trust's stock after selling 16,934 shares during the period. Bamco Inc. NY's holdings in Simon Property Group were worth $4,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group in the second quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the second quarter worth $27,000. RFP Financial Group LLC lifted its stake in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Simon Property Group in the second quarter worth $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in Simon Property Group in the third quarter worth $30,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPG shares. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Piper Sandler reissued a "neutral" rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Scotiabank raised their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus reissued a "hold" rating and set 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Simon Property Group has an average rating of "Hold" and an average price target of $165.44.

Insider Buying and Selling

In other news, Director Allan B. Hubbard purchased 370 shares of the business's stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 0.5 %

Shares of SPG traded up $0.88 during trading hours on Wednesday, hitting $181.51. The company had a trading volume of 1,100,093 shares, compared to its average volume of 1,444,347. The firm has a fifty day moving average price of $175.03 and a 200-day moving average price of $162.05. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $59.22 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 10.59 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $129.08 and a 52-week high of $186.00.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business posted $3.20 earnings per share. Simon Property Group's quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.63%. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group's dividend payout ratio (DPR) is presently 111.85%.

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.