AXS Investments LLC Sells 7,580 Shares of Simon Property Group, Inc. (NYSE:SPG)

AXS Investments LLC lowered its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 40.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,994 shares of the real estate investment trust’s stock after selling 7,580 shares during the period. AXS Investments LLC’s holdings in Simon Property Group were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tradition Wealth Management LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $87,000. Raymond James Trust N.A. grew its position in Simon Property Group by 4.0% during the first quarter. Raymond James Trust N.A. now owns 6,923 shares of the real estate investment trust’s stock worth $775,000 after buying an additional 269 shares in the last quarter. CWM LLC grew its position in Simon Property Group by 19.8% during the second quarter. CWM LLC now owns 4,804 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 794 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Simon Property Group by 5.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,301 shares of the real estate investment trust’s stock worth $728,000 after buying an additional 302 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in Simon Property Group by 30.9% during the second quarter. AE Wealth Management LLC now owns 19,588 shares of the real estate investment trust’s stock worth $2,262,000 after buying an additional 4,621 shares in the last quarter. Institutional investors own 84.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Truist Financial reduced their price target on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a research report on Tuesday, August 29th. JPMorgan Chase & Co. reduced their target price on Simon Property Group from $125.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, August 29th. Stifel Nicolaus reduced their target price on Simon Property Group from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.90.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $1.26 during mid-day trading on Friday, hitting $121.68. 1,121,288 shares of the stock traded hands, compared to its average volume of 1,567,478. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.94 and a quick ratio of 0.94. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $133.08. The company has a market cap of $39.70 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 6.91 and a beta of 1.58. The firm has a 50 day simple moving average of $111.01 and a two-hundred day simple moving average of $112.70.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Thursday, December 7th. Simon Property Group’s dividend payout ratio (DPR) is 112.59%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 580 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average price of $110.04 per share, with a total value of $63,823.20. Following the acquisition, the director now directly owns 49,727 shares in the company, valued at approximately $5,471,959.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brian J. Mcdade bought 359 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was acquired at an average cost of $109.19 per share, with a total value of $39,199.21. Following the transaction, the chief financial officer now directly owns 25,741 shares in the company, valued at $2,810,659.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Reuben S. Leibowitz bought 580 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average cost of $110.04 per share, with a total value of $63,823.20. Following the completion of the transaction, the director now owns 49,727 shares in the company, valued at $5,471,959.08. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.