Douglas Lane & Associates LLC Sells 5,869 Shares of Simon Property Group, Inc. (NYSE:SPG)

Douglas Lane & Associates LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,574 shares of the real estate investment trust's stock after selling 5,869 shares during the period. Douglas Lane & Associates LLC owned 0.07% of Simon Property Group worth $41,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Simon Property Group in the third quarter worth approximately $834,000. Red Cedar Investment Management LLC lifted its holdings in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust's stock valued at $2,973,000 after buying an additional 10,644 shares during the period. TTP Investments Inc. boosted its stake in Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock valued at $5,796,000 after buying an additional 10,147 shares in the last quarter. Versant Capital Management Inc boosted its stake in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after buying an additional 421 shares in the last quarter. Finally, Forte Capital LLC ADV bought a new stake in Simon Property Group in the third quarter worth about $630,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.4 %

Simon Property Group stock traded up $0.61 during mid-day trading on Wednesday, hitting $174.78. The company's stock had a trading volume of 1,319,663 shares, compared to its average volume of 1,548,013. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The firm's 50 day moving average is $177.15 and its 200 day moving average is $166.59. The company has a market cap of $57.03 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.20 earnings per share. On average, analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.81%. Simon Property Group's dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling 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 stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company's stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started 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 target on the stock. Mizuho increased 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. Stifel Nicolaus restated a "hold" rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Evercore ISI raised Simon Property Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $172.10.

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.