Callan Family Office LLC Has $328,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• Callan Family Office LLC has significantly reduced its holdings in Simon Property Group, trimming its position by 49.5% to approximately $328,000.
• Simon Property Group has announced a quarterly dividend increase to $2.15 per share, with a dividend yield of 5.0% as compared to the previous quarterly dividend of $2.10.
• The stock of Simon Property Group (SPG) is currently trading around $173.18, up 0.6%, with analysts maintaining an average rating of "Hold" and a consensus price target of $182.64.

Callan Family Office LLC trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 49.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,972 shares of the real estate investment trust's stock after selling 1,933 shares during the period. Callan Family Office LLC's holdings in Simon Property Group were worth $328,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $295,000. Mariner LLC boosted its position in shares of Simon Property Group by 2.4% in the 4th quarter. Mariner LLC now owns 61,712 shares of the real estate investment trust's stock worth $10,627,000 after purchasing an additional 1,422 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Simon Property Group in the 4th quarter worth $539,000. Bridgewater Associates LP bought a new position in shares of Simon Property Group in the 4th quarter worth $203,000. Finally, NewEdge Advisors LLC boosted its position in shares of Simon Property Group by 88.4% in the 4th quarter. NewEdge Advisors LLC now owns 25,363 shares of the real estate investment trust's stock worth $4,368,000 after purchasing an additional 11,898 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 0.6%

SPG stock traded up $0.99 during midday trading on Friday, hitting $173.18. 1,581,618 shares of the company's stock were exchanged, compared to its average volume of 1,494,117. The stock's fifty day moving average price is $163.30 and its 200-day moving average price is $164.70. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company has a market cap of $56.53 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 11.59 and a beta of 1.48. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $2.90 EPS. The company's revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 5.0%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is 129.83%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPG shares. Barclays started coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Stifel Nicolaus set a $179.00 price target on Simon Property Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Mizuho reduced their price target 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. JPMorgan Chase & Co. reduced their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Piper Sandler reduced their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Seven investment 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, Simon Property Group presently has an average rating of "Hold" and a consensus price target of $182.64.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Reuben S. Leibowitz purchased 522 shares of the company's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director directly 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 disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,428 shares of company stock worth $387,271. 8.66% of the stock is currently owned by company insiders.

Simon Property Group 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.