Davis Selected Advisers Sells 2,860 Shares of Simon Property Group, Inc. (NYSE:SPG)

Davis Selected Advisers lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,720 shares of the real estate investment trust's stock after selling 2,860 shares during the period. Davis Selected Advisers' holdings in Simon Property Group were worth $13,901,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank boosted its stake in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares in the last quarter. Versant Capital Management Inc grew its holdings in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. increased its stake in Simon Property Group by 0.7% in 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 in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $416,000. 93.01% of the stock is currently owned by institutional investors.

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Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated 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 purchase, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.50% of the company's stock.

Simon Property Group Stock Up 1.5 %

NYSE SPG traded up $2.47 on Wednesday, reaching $165.95. The company had a trading volume of 1,950,852 shares, compared to its average volume of 1,341,214. 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 stock has a market capitalization of $54.15 billion, a P/E ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78. The company's fifty day moving average is $177.75 and its 200 day moving average is $174.60. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

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 EPS 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid 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 dividend yield of 5.06%. Simon Property Group's payout ratio is presently 115.70%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began 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, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $180.33.

Simon Property Group Company 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.