Duff & Phelps Investment Management Co. Sells 288,138 Shares of Simon Property Group, Inc. (NYSE:SPG)

Duff & Phelps Investment Management Co. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 853,872 shares of the real estate investment trust's stock after selling 288,138 shares during the period. Simon Property Group accounts for about 1.8% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 12th biggest holding. Duff & Phelps Investment Management Co. owned 0.26% of Simon Property Group worth $147,045,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC lifted its position in shares of 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 buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group in the 4th quarter valued at $34,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target on the stock. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock 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 upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $180.33.

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Simon Property Group Price Performance

Shares of NYSE SPG traded up $1.94 during midday trading on Monday, reaching $166.22. The company's stock had a trading volume of 1,069,507 shares, compared to its average volume of 1,438,274. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market cap of $54.23 billion, a P/E ratio of 22.83, a P/E/G ratio of 10.10 and a beta of 1.78. The business's 50 day moving average price is $175.42 and its two-hundred day moving average price is $174.53. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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 forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 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.