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

Cullen Capital Management LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,936 shares of the real estate investment trust's stock after selling 1,764 shares during the quarter. Cullen Capital Management LLC's holdings in Simon Property Group were worth $1,539,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SPG has been the subject of a number of research reports. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research note on Wednesday. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and a consensus target price of $181.39.

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Simon Property Group Stock Performance

NYSE:SPG traded down $2.24 during mid-day trading on Friday, reaching $145.45. The stock had a trading volume of 576,533 shares, compared to its average volume of 1,494,570. The business has a 50 day simple moving average of $170.58 and a 200 day simple moving average of $173.39. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 10.10 and a beta of 1.45. 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, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

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, beating the consensus estimate 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 expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. 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 5.78%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

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.