OVERSEA CHINESE BANKING Corp Ltd Sells 460 Shares of Simon Property Group, Inc. (NYSE:SPG)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,983 shares of the real estate investment trust’s stock after selling 460 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Simon Property Group were worth $10,294,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SPG. Park Square Financial Group LLC grew its stake in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $31,000. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $34,000. Finally, Colonial Trust Co SC grew its stake in shares of Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 57 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Barclays assumed coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price for the company. Scotiabank raised their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. Stifel Nicolaus raised their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho decreased their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $178.50.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel bought 234 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares of the company’s stock, valued at $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stefan M. Selig bought 219 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $34,884.51. Following the acquisition, the director directly owned 31,881 shares of the company’s stock, valued at approximately $5,078,324.49. This represents a 0.69% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 2,386 shares of company stock valued at $380,066. 8.60% of the stock is currently owned by insiders.

Simon Property Group Trading Up 0.4%

Shares of Simon Property Group stock opened at $162.43 on Tuesday. The business has a fifty day simple moving average of $161.35 and a two-hundred day simple moving average of $165.96. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a market capitalization of $53.02 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 9.02 and a beta of 1.43. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted $3.56 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Monday, June 9th. Simon Property Group’s dividend payout ratio is currently 133.76%.

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.