Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,655,351 shares of the real estate investment trust's stock after selling 103,469 shares during the quarter. Simon Property Group comprises 3.0% of Centersquare Investment Management LLC's holdings, making the stock its 11th largest position. Centersquare Investment Management LLC owned 0.51% of Simon Property Group worth $285,068,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group in the third quarter valued at approximately $834,000. First Hawaiian Bank raised its position in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares during the period. Versant Capital Management Inc lifted its stake in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $416,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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Simon Property Group Stock Down 1.1 %

NYSE SPG traded down $1.62 on Tuesday, hitting $141.72. 1,367,842 shares of the stock were exchanged, compared to its average volume of 1,473,434. Simon Property Group, Inc. has a fifty-two week low of $138.11 and a fifty-two week high of $190.14. The company has a 50-day moving average price of $173.36 and a 200-day moving average price of $174.23. The company has a market cap of $46.24 billion, a PE ratio of 19.53, a PEG ratio of 10.10 and a beta of 1.45. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.93%. Simon Property Group's dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

SPG has been the subject of several research reports. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average price target of $180.33.

Simon Property Group Company 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.