Arrowstreet Capital Limited Partnership Sells 828,416 Shares of Simon Property Group, Inc. (NYSE:SPG)

Arrowstreet Capital Limited Partnership cut its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 96.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,956 shares of the real estate investment trust's stock after selling 828,416 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Simon Property Group were worth $4,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC boosted its holdings in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $0.29 during trading on Friday, hitting $147.98. The stock had a trading volume of 1,712,797 shares, compared to its average volume of 1,499,610. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business has a fifty day moving average of $170.08 and a two-hundred day moving average of $173.25. The firm has a market cap of $48.28 billion, a P/E ratio of 20.38, a PEG ratio of 10.10 and a beta of 1.45.

Remove Ads

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.68%. Simon Property Group's payout ratio is presently 115.70%.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $181.39.

Simon Property Group 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.