Corient Private Wealth LLC Sells 6,535 Shares of Simon Property Group, Inc. (NYSE:SPG)

Corient Private Wealth LLC cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,301 shares of the real estate investment trust's stock after selling 6,535 shares during the quarter. Corient Private Wealth LLC's holdings in Simon Property Group were worth $12,579,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. one8zero8 LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $1,527,000. Natixis Advisors LLC grew its position in Simon Property Group by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 197,248 shares of the real estate investment trust's stock worth $33,968,000 after buying an additional 11,293 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Simon Property Group by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,031 shares of the real estate investment trust's stock worth $1,383,000 after buying an additional 207 shares in the last quarter. Alpine Woods Capital Investors LLC grew its position in Simon Property Group by 6.3% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 9,981 shares of the real estate investment trust's stock worth $1,719,000 after buying an additional 594 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in Simon Property Group during the fourth quarter worth about $141,000. 93.01% of the stock is owned by institutional investors and hedge funds.

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Simon Property Group Price Performance

Shares of SPG traded down $2.33 on Friday, hitting $162.12. The company's stock had a trading volume of 3,094,006 shares, compared to its average volume of 1,342,277. The company has a market capitalization of $52.90 billion, a PE ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. 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 fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a 50 day moving average price of $176.11 and a 200 day moving average price of $174.37.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SPG. StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. Finally, Jefferies Financial Group raised 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 report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $180.33.

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.