Victory Capital Management Inc. Trims Stake in Simon Property Group, Inc. (NYSE:SPG)

Victory Capital Management Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,281 shares of the real estate investment trust's stock after selling 14,495 shares during the period. Victory Capital Management Inc. owned about 0.07% of Simon Property Group worth $36,729,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. WR Wealth Planners LLC raised its position in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the third quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the fourth quarter worth $41,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at $41,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company's stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company's stock.

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Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $2.47 during midday trading on Wednesday, reaching $165.95. 1,951,062 shares of the company's stock traded hands, compared to its average volume of 1,338,635. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company has a market cap of $54.15 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78. The stock has a 50 day moving average of $177.62 and a 200 day moving average of $174.54.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its 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%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced 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. This represents a $8.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SPG. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated 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. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $180.33.

About Simon Property Group

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.