Fmr LLC Trims Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

FMR LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,765,599 shares of the real estate investment trust's stock after selling 564,440 shares during the quarter. FMR LLC owned approximately 1.15% of Simon Property Group worth $648,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unigestion Holding SA boosted its position in shares of Simon Property Group by 875.3% in the fourth quarter. Unigestion Holding SA now owns 37,794 shares of the real estate investment trust's stock worth $6,509,000 after purchasing an additional 33,919 shares during the period. Federated Hermes Inc. increased its stake in Simon Property Group by 20.7% in the 4th quarter. Federated Hermes Inc. now owns 45,859 shares of the real estate investment trust's stock worth $7,897,000 after buying an additional 7,865 shares in the last quarter. Waterloo Capital L.P. raised its holdings in Simon Property Group by 0.5% during the fourth quarter. Waterloo Capital L.P. now owns 21,989 shares of the real estate investment trust's stock valued at $3,787,000 after acquiring an additional 101 shares during the period. Russell Investments Group Ltd. raised its holdings in Simon Property Group by 4.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,493,987 shares of the real estate investment trust's stock valued at $257,241,000 after acquiring an additional 64,802 shares during the period. Finally, Aviva PLC lifted its position in shares of Simon Property Group by 9.7% in the fourth quarter. Aviva PLC now owns 27,538 shares of the real estate investment trust's stock valued at $4,742,000 after acquiring an additional 2,428 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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Simon Property Group Price Performance

Shares of NYSE SPG traded up $3.21 during mid-day trading on Monday, hitting $151.41. 207,884 shares of the company's stock traded hands, compared to its average volume of 1,496,039. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company's 50-day moving average is $170.08 and its two-hundred day moving average is $173.30. The company has a market capitalization of $49.40 billion, a P/E ratio of 20.86, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data 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%. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SPG shares. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective on the stock in a research report on Wednesday, April 9th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of "Moderate Buy" and an average price target of $181.39.

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.