Kintegral Advisory LLC Has $809,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Kintegral Advisory LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 32.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the real estate investment trust's stock after selling 2,388 shares during the period. Kintegral Advisory LLC's holdings in Simon Property Group were worth $809,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the fourth quarter valued at about $28,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group during the 4th quarter worth $31,000. Continuum Advisory LLC grew its stake in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 156 shares during the last quarter. TCTC Holdings LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. Finally, Colonial Trust Co SC lifted its position in shares of Simon Property Group by 37.5% during the 4th 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 during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock bought 396 shares of the company's stock in a transaction on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This represents a 0.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel purchased 234 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the acquisition, the director directly owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This trade represents 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 have purchased 2,386 shares of company stock valued at $380,066. Corporate insiders own 8.66% of the company's stock.

Simon Property Group Trading Up 0.4%

Shares of SPG stock traded up $0.63 on Friday, reaching $166.47. 925,334 shares of the stock were exchanged, compared to its average volume of 1,541,335. 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, Inc. has a one year low of $136.34 and a one year high of $190.14. The stock has a market cap of $54.34 billion, a PE ratio of 26.51, a P/E/G ratio of 9.30 and a beta of 1.43. The stock has a 50 day moving average price of $160.86 and a 200 day moving average price of $166.41.

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 for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. Simon Property Group's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.56 earnings per share. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company 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 annualized dividend and a yield of 5.05%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Mizuho cut their price objective 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 target price on shares of 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. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Barclays began coverage on Simon Property Group in a research report on Wednesday. They issued an "equal weight" rating and a $170.00 target price 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. According to data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average target price of $178.50.

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.