Rhumbline Advisers Has $125.03 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Rhumbline Advisers lessened its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 726,006 shares of the real estate investment trust's stock after selling 7,963 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Simon Property Group worth $125,025,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Simon Property Group in the 3rd quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the 4th quarter valued at $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the 4th quarter worth $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the third quarter worth $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SPG. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target on the stock. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $175.10.

Simon Property Group Trading Down 0.1 %

NYSE SPG traded down $0.16 during trading hours on Wednesday, reaching $185.88. The company's stock had a trading volume of 778,169 shares, compared to its average volume of 1,303,329. The firm has a fifty day simple moving average of $175.91 and a 200-day simple moving average of $172.16. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13. The stock has a market cap of $60.65 billion, a P/E ratio of 25.60, a P/E/G ratio of 10.00 and a beta of 1.74.

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

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.52%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value 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 approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.60% of the company's stock.

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.