Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,596 shares of the real estate investment trust's stock after selling 3,116 shares during the quarter. Tidal Investments LLC's holdings in Simon Property Group were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SPG. Assenagon Asset Management S.A. lifted its stake in shares of Simon Property Group by 4.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,043 shares of the real estate investment trust's stock valued at $1,069,000 after purchasing an additional 330 shares during the period. Blue Trust Inc. boosted its holdings in Simon Property Group by 453.6% in the second quarter. Blue Trust Inc. now owns 1,384 shares of the real estate investment trust's stock worth $217,000 after purchasing an additional 1,134 shares during the last quarter. Brookstone Capital Management lifted its holdings in Simon Property Group by 39.3% in the second quarter. Brookstone Capital Management now owns 19,492 shares of the real estate investment trust's stock valued at $3,019,000 after acquiring an additional 5,501 shares during the period. Raymond James & Associates increased its position in shares of Simon Property Group by 1.4% during the 2nd quarter. Raymond James & Associates now owns 268,258 shares of the real estate investment trust's stock valued at $40,721,000 after purchasing an additional 3,634 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Simon Property Group by 42.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,348 shares of the real estate investment trust's stock worth $964,000 after purchasing an additional 1,893 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SPG. Mizuho upped their target price on shares of 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 reissued a "neutral" rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Evercore ISI raised shares of Simon Property Group from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus restated a "hold" rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $165.44.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $2.40 during mid-day trading on Friday, reaching $179.60. 1,462,367 shares of the stock traded hands, compared to its average volume of 1,466,900. The business has a 50-day moving average of $176.65 and a 200 day moving average of $163.67. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. 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 $58.60 billion, a PE ratio of 23.91, a PEG ratio of 10.50 and a beta of 1.75.

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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $3.20 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.68%. Simon Property Group's dividend payout ratio is 111.85%.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction on Monday, September 30th. The shares were bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

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.