Brown Advisory Inc. Sells 4,737 Shares of Simon Property Group, Inc. (NYSE:SPG)

Brown Advisory Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,928 shares of the real estate investment trust's stock after selling 4,737 shares during the period. Brown Advisory Inc.'s holdings in Simon Property Group were worth $6,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pitcairn Co. lifted its stake in Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 55 shares during the last quarter. Colonial Trust Co SC lifted its stake in 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 valued at $36,000 after purchasing an additional 57 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after purchasing an additional 60 shares during the last quarter. Signaturefd LLC lifted its stake in Simon Property Group by 1.3% in the fourth quarter. Signaturefd LLC now owns 5,542 shares of the real estate investment trust's stock valued at $954,000 after purchasing an additional 71 shares during the last quarter. Finally, Aspiriant LLC lifted its stake in Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Scotiabank upped their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Barclays initiated coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $178.50.

Simon Property Group Price Performance

Shares of SPG traded down $1.76 during midday trading on Friday, reaching $161.69. The stock had a trading volume of 1,112,287 shares, compared to its average volume of 1,547,267. The company's 50-day moving average is $161.31 and its 200 day moving average is $166.13. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The company has a market capitalization of $52.78 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 9.11 and a beta of 1.43.

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 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 firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business earned $3.56 EPS. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders 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 5.20%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Insider Buying and Selling

In related news, Director Larry C. Glasscock bought 396 shares of the 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 $63,078.84. Following the purchase, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Glyn Aeppel bought 234 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,386 shares of company stock worth $380,066 in the last 90 days. 8.66% of the stock is currently owned by company insiders.

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.