Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Allstate Corp

Allstate Corp cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 33.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,742 shares of the real estate investment trust's stock after selling 15,195 shares during the quarter. Allstate Corp's holdings in Simon Property Group were worth $5,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Simon Property Group during the fourth quarter valued at $2,059,505,000. JPMorgan Chase & Co. raised its stake in shares of 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after buying an additional 64,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock worth $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Finally, Boston Partners grew its holdings in Simon Property Group by 7.0% during the fourth quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock worth $431,304,000 after acquiring an additional 162,764 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $3.57 during mid-day trading on Wednesday, reaching $170.04. 463,268 shares of the stock traded hands, compared to its average volume of 1,441,126. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business has a 50-day moving average of $175.08 and a 200 day moving average of $174.56. The stock has a market capitalization of $55.48 billion, a PE ratio of 23.42, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Six 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, Simon Property Group has an average rating of "Hold" and a consensus price target of $180.33.

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.