Radnor Capital Management LLC Sells 3,747 Shares of Simon Property Group, Inc. (NYSE:SPG)

Radnor Capital Management LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 39.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,732 shares of the real estate investment trust's stock after selling 3,747 shares during the quarter. Radnor Capital Management LLC's holdings in Simon Property Group were worth $987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in Simon Property Group by 19.7% during the second quarter. Federated Hermes Inc. now owns 21,012 shares of the real estate investment trust's stock worth $3,190,000 after purchasing an additional 3,465 shares during the period. Renaissance Technologies LLC acquired a new position in Simon Property Group in the 2nd quarter valued at about $364,000. Mercer Global Advisors Inc. ADV raised its holdings in Simon Property Group by 1.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 109,317 shares of the real estate investment trust's stock valued at $16,594,000 after acquiring an additional 1,867 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Simon Property Group by 6.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,521 shares of the real estate investment trust's stock worth $1,293,000 after purchasing an additional 499 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Simon Property Group by 14.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,395 shares of the real estate investment trust's stock valued at $4,601,000 after purchasing an additional 3,833 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

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

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $0.92 during midday trading on Thursday, hitting $172.67. The company's stock had a trading volume of 1,195,762 shares, compared to its average volume of 1,447,566. The stock has a fifty day moving average price of $177.34 and a 200 day moving average price of $167.47. The firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 9.16 and a beta of 1.75. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. 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 (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the company earned $3.20 EPS. The company's revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that Simon Property Group, Inc. will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.86%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's payout ratio is 111.85%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by corporate insiders.

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.