Aster Capital Management DIFC Ltd Sells 14,931 Shares of Simon Property Group, Inc. (NYSE:SPG)

Aster Capital Management DIFC Ltd reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 90.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,644 shares of the real estate investment trust's stock after selling 14,931 shares during the period. Aster Capital Management DIFC Ltd's holdings in Simon Property Group were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC boosted its position in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at about $30,000. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group in the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPG shares. 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 report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a report on Wednesday. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of "Moderate Buy" and an average target price of $181.39.

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Simon Property Group Trading Up 0.2 %

Shares of NYSE SPG traded up $0.29 during midday trading on Friday, hitting $147.98. 1,712,797 shares of the company traded hands, compared to its average volume of 1,501,097. The firm has a market cap of $48.28 billion, a P/E ratio of 20.38, a P/E/G ratio of 10.10 and a beta of 1.45. The stock has a 50-day moving average price of $170.08 and a 200 day moving average price of $173.30. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.68%. Simon Property Group's payout ratio is 115.70%.

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.