CORDA Investment Management LLC. Has $35.31 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

CORDA Investment Management LLC. cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,633 shares of the real estate investment trust's stock after selling 4,196 shares during the period. Simon Property Group accounts for approximately 2.8% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 15th largest holding. CORDA Investment Management LLC. owned 0.07% of Simon Property Group worth $35,314,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter worth $28,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter worth $31,000. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% in the first 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 in the last quarter. TCTC Holdings LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $34,000. Finally, Colonial Trust Co SC grew its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPG. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Mizuho decreased their price target on 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. Barclays assumed coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. JPMorgan Chase & Co. decreased their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler decreased their target price on 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $178.50.

Simon Property Group Trading Down 1.1%

Shares of NYSE:SPG traded down $1.76 during midday trading on Friday, reaching $161.69. The company had a trading volume of 1,112,287 shares, compared to its average volume of 1,546,620. The company has a fifty day simple moving average of $161.32 and a two-hundred day simple moving average of $166.21. The firm has a market cap of $52.78 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 9.09 and a beta of 1.43. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45.

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

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $2.10 per share. 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 5.20%. Simon Property Group's payout ratio is presently 133.76%.

Insider Activity

In other Simon Property Group news, Director Stefan M. Selig acquired 219 shares of the firm'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 $34,884.51. Following the transaction, the director owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 234 shares of Simon Property Group stock in a transaction dated 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 completion of the acquisition, the director owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,386 shares of company stock worth $380,066. Corporate insiders own 8.66% of the company's stock.

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.