Simon Property Group, Inc. (NYSE:SPG) Shares Sold by First Foundation Advisors

First Foundation Advisors lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,304 shares of the real estate investment trust’s stock after selling 556 shares during the quarter. First Foundation Advisors’ holdings in Simon Property Group were worth $217,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SPG. Park Square Financial Group LLC raised its position in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC increased its position 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 purchasing an additional 156 shares during the last quarter. Colonial Trust Co SC raised its holdings in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of recent analyst reports. Piper Sandler dropped 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 report on Friday, May 23rd. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Stifel Nicolaus upped their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $182.73.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock acquired 396 shares of the company’s stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the transaction, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock worth $380,066 over the last ninety days. 8.66% of the stock is currently owned by insiders.

Simon Property Group Trading Down 1.5%

NYSE:SPG opened at $165.62 on Thursday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The firm has a market cap of $54.06 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 11.35 and a beta of 1.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock has a fifty day moving average price of $161.70 and a 200 day moving average price of $165.32.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $3.56 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.07%. Simon Property Group’s dividend payout ratio is currently 133.76%.

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.