Commonwealth Equity Services LLC Has $10.85 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Commonwealth Equity Services LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,998 shares of the real estate investment trust's stock after selling 34,897 shares during the period. Commonwealth Equity Services LLC's holdings in Simon Property Group were worth $10,849,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the 4th quarter worth about $28,000. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a research report on Friday. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $180.33.

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Insider Buying and Selling at Simon Property Group

In other Simon Property Group 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 cost 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 $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $2.33 during midday trading on Friday, reaching $162.12. The company had a trading volume of 3,094,006 shares, compared to its average volume of 1,342,376. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a fifty day simple moving average of $176.11 and a 200 day simple moving average of $174.30. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company has a market capitalization of $52.90 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.18%. Simon Property Group's payout ratio is 115.70%.

Simon Property Group Company 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.