B&I Capital AG Lowers Position in Simon Property Group, Inc. (NYSE:SPG)

B&I Capital AG trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,515 shares of the real estate investment trust's stock after selling 28,185 shares during the quarter. Simon Property Group comprises about 3.4% of B&I Capital AG's investment portfolio, making the stock its 9th largest holding. B&I Capital AG's holdings in Simon Property Group were worth $10,382,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC raised its holdings in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $295,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Simon Property Group in the 1st quarter valued at $717,000. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on SPG shares. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research note on Friday. They issued a "buy" rating and a $225.00 price objective for the company. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Mizuho reduced their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Piper Sandler reduced 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $182.73.

Simon Property Group Stock Up 0.0%

Simon Property Group stock traded up $0.07 on Tuesday, hitting $163.83. 346,081 shares of the stock traded hands, compared to its average volume of 1,542,635. 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 firm has a market cap of $53.48 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 10.98 and a beta of 1.43. The business's fifty day simple moving average is $161.32 and its 200 day simple moving average is $165.67. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $3.56 EPS. Simon Property Group's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.13%. Simon Property Group's dividend payout ratio is currently 133.76%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $83,149.38. Following the acquisition, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stefan M. Selig purchased 219 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the acquisition, the director owned 31,881 shares in the company, valued at $5,078,324.49. This represents a 0.69% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,386 shares of company stock worth $380,066. 8.66% of the stock is owned by corporate insiders.

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.

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