Premier Path Wealth Partners LLC Sells 7,638 Shares of Simon Property Group, Inc. (NYSE:SPG)

Premier Path Wealth Partners LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 68.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,539 shares of the real estate investment trust's stock after selling 7,638 shares during the quarter. Premier Path Wealth Partners LLC's holdings in Simon Property Group were worth $609,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Simon Property Group by 617.5% in 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 valued at $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. increased its stake in shares of Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust's stock valued at $442,892,000 after buying an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Simon Property Group by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock valued at $251,484,000 after buying an additional 25,519 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock valued at $212,906,000 after purchasing an additional 993,694 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Simon Property Group by 6.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust's stock worth $193,023,000 after purchasing an additional 73,742 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm's stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company's stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SPG. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Finally, Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $172.10.

Simon Property Group Stock Up 0.9 %

Simon Property Group stock traded up $1.57 during midday trading on Friday, hitting $174.28. 1,302,389 shares of the stock were exchanged, compared to its average volume of 1,322,182. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The business's 50-day moving average price is $177.19 and its 200-day moving average price is $167.83. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $56.86 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 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, research analysts expect that Simon Property Group, Inc. will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is 111.85%.

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.