Catalyst Funds Management Pty Ltd Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Catalyst Funds Management Pty Ltd lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 58.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the real estate investment trust's stock after selling 5,600 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Simon Property Group were worth $689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aptus Capital Advisors LLC increased its stake in shares of Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust's stock valued at $273,000 after buying an additional 61 shares during the period. Victory Capital Management Inc. grew its holdings in Simon Property Group by 6.0% during the 3rd quarter. Victory Capital Management Inc. now owns 227,776 shares of the real estate investment trust's stock worth $38,499,000 after acquiring an additional 12,854 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Simon Property Group by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,509 shares of the real estate investment trust's stock valued at $1,100,000 after purchasing an additional 190 shares during the period. Balboa Wealth Partners bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $206,000. Finally, CIBC Asset Management Inc lifted its position in shares of Simon Property Group by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 45,308 shares of the real estate investment trust's stock worth $7,658,000 after purchasing an additional 1,506 shares during the period. Institutional investors own 93.01% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $180.33.

Insider Buying and Selling

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 shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $0.44 during midday trading on Thursday, hitting $164.36. The company had a trading volume of 1,445,251 shares, compared to its average volume of 1,339,635. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month 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 fifty day simple moving average of $176.50 and a 200 day simple moving average of $174.40.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

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 given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.11%. 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.