Hudson Edge Investment Partners Inc. Decreases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Hudson Edge Investment Partners Inc. lessened its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,406 shares of the real estate investment trust's stock after selling 5,189 shares during the period. Hudson Edge Investment Partners Inc.'s holdings in Simon Property Group were worth $6,046,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in shares of Simon Property Group by 13.6% in the first quarter. Private Trust Co. NA now owns 3,382 shares of the real estate investment trust's stock worth $562,000 after acquiring an additional 404 shares during the period. Arbor Capital Management Inc. ADV boosted its holdings in shares of Simon Property Group by 3.7% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 10,999 shares of the real estate investment trust's stock worth $1,849,000 after buying an additional 394 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Simon Property Group in the 1st quarter valued at $88,000. DAVENPORT & Co LLC increased its stake in shares of Simon Property Group by 296.7% in the 1st quarter. DAVENPORT & Co LLC now owns 9,639 shares of the real estate investment trust's stock valued at $1,601,000 after acquiring an additional 7,209 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Simon Property Group by 2.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,907 shares of the real estate investment trust's stock valued at $17,921,000 after acquiring an additional 2,464 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Gary M. Rodkin purchased 246 shares of the business's stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith acquired 378 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $60,211.62. Following the acquisition, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. This represents a 1.20% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,386 shares of company stock valued at $380,066 in the last quarter. Insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPG. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. 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. Mizuho lowered their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Scotiabank raised their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. decreased their target price 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $178.50.

Simon Property Group Stock Up 0.4%

NYSE:SPG traded up $0.63 during trading hours on Friday, hitting $166.47. 925,334 shares of the company traded hands, compared to its average volume of 1,543,658. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The firm's 50-day simple moving average is $160.86 and its 200-day simple moving average is $166.41. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company has a market cap of $54.34 billion, a PE ratio of 13.48, a PEG ratio of 9.30 and a beta of 1.43.

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. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $3.56 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

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.