Summit Investment Advisors Inc. Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Summit Investment Advisors Inc. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,188 shares of the real estate investment trust’s stock after selling 116 shares during the period. Summit Investment Advisors Inc.’s holdings in Simon Property Group were worth $549,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new position in Simon Property Group during the third quarter worth about $155,000. SkyView Investment Advisors LLC raised its stake in shares of Simon Property Group by 4.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 158 shares in the last quarter. World Investment Advisors LLC lifted its holdings in shares of Simon Property Group by 17.3% in the 3rd quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust’s stock valued at $597,000 after buying an additional 521 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group in the third quarter valued at approximately $834,000. Finally, Blankinship & Foster LLC acquired a new position in Simon Property Group during the third quarter worth $608,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Simon Property Group stock opened at $150.31 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45. The stock has a fifty day moving average of $166.96 and a two-hundred day moving average of $172.57. 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 (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.59%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Wall Street Analyst Weigh In

Several brokerages have commented on SPG. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group upgraded 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. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Five equities 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, the company has a consensus rating of “Moderate Buy” and an average price target of $181.39.

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.