Vicus Capital Sells 946 Shares of Simon Property Group, Inc. (NYSE:SPG)

Vicus Capital decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 38.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,540 shares of the real estate investment trust’s stock after selling 946 shares during the period. Vicus Capital’s holdings in Simon Property Group were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Foundations Investment Advisors LLC purchased a new stake in shares of Simon Property Group during the third quarter worth $5,321,000. Venture Visionary Partners LLC raised its position in shares of Simon Property Group by 16.1% in the third quarter. Venture Visionary Partners LLC now owns 16,865 shares of the real estate investment trust’s stock worth $2,851,000 after buying an additional 2,334 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Simon Property Group by 3.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 34,597 shares of the real estate investment trust’s stock worth $5,847,000 after buying an additional 1,016 shares in the last quarter. Whittier Trust Co. raised its position in shares of Simon Property Group by 3.9% in the third quarter. Whittier Trust Co. now owns 74,815 shares of the real estate investment trust’s stock worth $12,645,000 after buying an additional 2,796 shares in the last quarter. Finally, Western Financial Corp CA raised its position in shares of Simon Property Group by 27.3% in the third quarter. Western Financial Corp CA now owns 9,245 shares of the real estate investment trust’s stock worth $1,563,000 after buying an additional 1,980 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.4 %

Shares of NYSE:SPG opened at $174.85 on Wednesday. The stock’s 50-day moving average price is $166.73 and its 200-day moving average price is $155.02. Simon Property Group, Inc. has a 12-month low of $104.05 and a 12-month high of $177.08. The stock has a market capitalization of $57.01 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 9.70 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $2.05 dividend. The ex-dividend date was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 4.69%. Simon Property Group’s dividend payout ratio (DPR) is presently 104.19%.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $162.78.

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.