Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Blue Trust Inc.

Blue Trust Inc. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 70.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,281 shares of the real estate investment trust's stock after selling 3,057 shares during the quarter. Blue Trust Inc.'s holdings in Simon Property Group were worth $221,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Asset Planning Inc acquired a new position in Simon Property Group during the fourth quarter valued at $437,000. White Pine Capital LLC lifted its position in Simon Property Group by 5.0% during the fourth quarter. White Pine Capital LLC now owns 3,149 shares of the real estate investment trust's stock valued at $542,000 after purchasing an additional 150 shares during the period. V Square Quantitative Management LLC lifted its position in Simon Property Group by 10.0% during the fourth quarter. V Square Quantitative Management LLC now owns 2,319 shares of the real estate investment trust's stock valued at $399,000 after purchasing an additional 210 shares during the period. Catalyst Financial Partners LLC lifted its position in Simon Property Group by 6.7% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $248,000 after purchasing an additional 90 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group 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 acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company's stock.

Simon Property Group Price Performance

NYSE SPG traded down $2.85 during trading hours on Friday, hitting $183.86. 1,367,631 shares of the company's stock traded hands, compared to its average volume of 1,168,894. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The company has a market capitalization of $59.99 billion, a PE ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm's 50-day moving average is $176.37 and its 200-day moving average is $172.60.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate 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 analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group's dividend payout ratio is currently 115.70%.

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.