Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 71.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,482 shares of the real estate investment trust's stock after selling 3,676 shares during the quarter. Martingale Asset Management L P's holdings in Simon Property Group were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock worth $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock worth $212,906,000 after buying an additional 993,694 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust's stock worth $150,780,000 after buying an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC increased its position in Simon Property Group by 2,520.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust's stock valued at $111,247,000 after acquiring an additional 633,072 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in Simon Property Group by 16,795.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust's stock valued at $64,374,000 after acquiring an additional 421,560 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

SPG has been the topic of several analyst reports. Stifel Nicolaus reissued a "hold" rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Piper Sandler restated a "neutral" rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Evercore ISI raised Simon Property Group from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average target price of $165.44.

Simon Property Group Price Performance

Shares of NYSE:SPG traded up $0.46 during trading on Thursday, hitting $181.97. 368,061 shares of the stock were exchanged, compared to its average volume of 1,439,677. Simon Property Group, Inc. has a 12-month low of $129.08 and a 12-month high of $186.00. The company has a market cap of $59.37 billion, a PE ratio of 24.17, a P/E/G ratio of 10.55 and a beta of 1.75. The company has a fifty day moving average price of $175.03 and a two-hundred day moving average price of $162.05. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 earnings per share. On average, analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group's payout ratio is 109.19%.

About Simon Property Group

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.