Simon Property Group, Inc. (NYSE:SPG) Shares Sold by CORDA Investment Management LLC.

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

Several other hedge funds have also recently modified their holdings of SPG. Norges Bank purchased a new stake in Simon Property Group in the 4th quarter worth approximately $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after buying an additional 230,982 shares in the last quarter. Northern Trust Corp lifted its position in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after buying an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after buying an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after buying an additional 542,511 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE SPG traded up $0.52 during mid-day trading on Thursday, hitting $163.45. The stock had a trading volume of 1,061,511 shares, compared to its average volume of 1,548,358. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The stock has a market capitalization of $53.35 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 9.09 and a beta of 1.43. The firm's 50 day moving average is $161.32 and its 200 day moving average is $166.21. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.34 billion. During the same period last year, the company earned $3.56 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPG shares. 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 report on Thursday, May 22nd. Scotiabank increased their target price on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Mizuho decreased 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. Piper Sandler reduced their price objective 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. Finally, 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 objective for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $178.50.

Insiders Place Their Bets

In related news, Director Stefan M. Selig bought 219 shares of the business's stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $34,884.51. Following the purchase, the director directly owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,386 shares of company stock worth $380,066. 8.66% of the stock is currently owned by company 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.