Minneapolis Portfolio Management Group LLC Has $29.47 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Minneapolis Portfolio Management Group LLC cut its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,449 shares of the real estate investment trust's stock after selling 1,789 shares during the quarter. Simon Property Group accounts for 4.1% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 11th largest position. Minneapolis Portfolio Management Group LLC owned 0.05% of Simon Property Group worth $29,471,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SPG. Norges Bank acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $2,059,505,000. Geode Capital Management LLC increased its position in Simon Property Group by 2.6% in 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 acquiring an additional 230,982 shares during the period. Northern Trust Corp increased its stake in 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 during the period. JPMorgan Chase & Co. increased its stake in 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 during the period. Finally, Invesco Ltd. raised 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 worth $726,136,000 after buying an additional 542,511 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.4%

Shares of NYSE:SPG traded up $0.63 during midday trading on Friday, reaching $166.47. The company had a trading volume of 925,334 shares, compared to its average volume of 1,543,658. The company has a fifty day simple moving average of $160.86 and a two-hundred day simple moving average of $166.38. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 9.30 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.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.56 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.05%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock bought 396 shares of the stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,386 shares of company stock valued at $380,066 in the last ninety days. Company insiders own 8.66% of the company's stock.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank lifted their price target 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 cut their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. JPMorgan Chase & Co. lowered their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Piper Sandler cut 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 report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average price target of $178.50.

Simon Property Group Company 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.