Simon Property Group, Inc. (NYSE:SPG) Holdings Cut by Cohen & Steers Inc.

Cohen & Steers Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,487,347 shares of the real estate investment trust's stock after selling 1,600,497 shares during the period. Simon Property Group accounts for approximately 5.4% of Cohen & Steers Inc.'s holdings, making the stock its 5th biggest position. Cohen & Steers Inc. owned about 5.05% of Simon Property Group worth $2,839,125,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the 4th quarter worth approximately $28,000. WR Wealth Planners LLC boosted its position in shares of 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 worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group in the 4th quarter worth $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the fourth quarter valued at approximately $34,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPG. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five 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, Simon Property Group has an average rating of "Moderate Buy" and a consensus target price of $181.39.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $2.26 during trading on Friday, hitting $150.31. The stock had a trading volume of 1,267,314 shares, compared to its average volume of 1,503,931. 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, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The stock has a 50-day simple moving average of $166.96 and a two-hundred day simple moving average of $172.57.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced 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. This represents a $8.40 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

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.