Oppenheimer Asset Management Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,649 shares of the real estate investment trust’s stock after selling 3,692 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Simon Property Group were worth $2,447,000 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. Arlington Trust Co LLC bought a new position in Simon Property Group during the third quarter valued at $25,000. DT Investment Partners LLC grew its holdings in Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Nemes Rush Group LLC bought a new position in Simon Property Group during the second quarter valued at $26,000. Selway Asset Management bought a new position in Simon Property Group during the third quarter valued at $26,000. Finally, Financial Freedom LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $27,000. 84.73% of the stock is owned by institutional investors and hedge funds.
Simon Property Group Trading Down 0.8 %
NYSE SPG opened at $136.79 on Tuesday. The stock’s 50-day simple moving average is $139.58 and its two-hundred day simple moving average is $123.16. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $146.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 7.40. The company has a market capitalization of $44.63 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 6.63 and a beta of 1.65.
Simon Property Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be given a dividend of $1.95 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.70%. Simon Property Group’s dividend payout ratio (DPR) is presently 112.59%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on SPG shares. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Truist Financial raised their price target on Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley lowered Simon Property Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $132.00 to $143.00 in a report on Thursday, December 21st. Stifel Nicolaus cut their price target on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Finally, Piper Sandler raised their price target on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $137.75.
View Our Latest Analysis on Simon Property Group
Simon Property Group Profile
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
Further Reading
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