Argentarii LLC Sells 693 Shares of Simon Property Group, Inc. (NYSE:SPG)

Argentarii LLC lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 9.7% in the 1st quarter, Holdings Channel reports. The firm owned 6,443 shares of the real estate investment trust’s stock after selling 693 shares during the quarter. Argentarii LLC’s holdings in Simon Property Group were worth $1,070,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SPG. Brighton Jones LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at about $295,000. Keybank National Association OH grew its position in Simon Property Group by 3.6% during the 4th quarter. Keybank National Association OH now owns 6,310 shares of the real estate investment trust’s stock worth $1,087,000 after acquiring an additional 220 shares during the last quarter. Proficio Capital Partners LLC grew its position in Simon Property Group by 31.9% during the 4th quarter. Proficio Capital Partners LLC now owns 3,149 shares of the real estate investment trust’s stock worth $542,000 after acquiring an additional 761 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $78,393,000. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Simon Property Group by 1.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 70 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Larry C. Glasscock purchased 396 shares of the business’s stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares of the company’s stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the business’s stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $39,185.34. Following the acquisition, the director directly owned 19,010 shares of the company’s stock, valued at $3,028,102.90. This trade represents a 1.31% 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 valued at $380,066 over the last ninety days. 8.66% of the stock is owned by insiders.

Simon Property Group Stock Up 0.4%

SPG stock opened at $166.47 on Friday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The business has a fifty day moving average price of $160.86 and a 200-day moving average price of $166.38. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $54.34 billion, a P/E ratio of 26.51, a P/E/G ratio of 9.30 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $3.56 earnings per share. Simon Property Group’s revenue was up 2.1% compared to the same quarter last year. Equities 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group’s payout ratio is currently 133.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank lifted their price objective on 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. JPMorgan Chase & Co. lowered their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Piper Sandler lowered 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, Mizuho lowered their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $178.50.

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.