Empowered Funds LLC Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Empowered Funds LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,402 shares of the real estate investment trust's stock after selling 2,408 shares during the period. Empowered Funds LLC's holdings in Simon Property Group were worth $7,130,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $834,000. First Hawaiian Bank grew its position in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares during the period. Red Cedar Investment Management LLC grew its position in shares of Simon Property Group by 153.2% in the 3rd 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 purchasing an additional 10,644 shares during the period. TTP Investments Inc. boosted its position in Simon Property Group by 42.0% during the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock worth $5,796,000 after acquiring an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after acquiring an additional 421 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. 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 note on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company 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 given a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average price target of $175.10.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Down 0.6 %

Shares of NYSE:SPG traded down $1.10 during mid-day trading on Friday, hitting $185.12. 998,005 shares of the company traded hands, compared to its average volume of 1,326,453. The stock has a 50-day moving average price of $175.69 and a two-hundred day moving average price of $171.22. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.14. The stock has a market cap of $60.40 billion, a P/E ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. 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 4.54%. Simon Property Group's dividend payout ratio is 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.