Foundry Partners LLC Has $28.62 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Foundry Partners LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 166,197 shares of the real estate investment trust's stock after selling 24,181 shares during the quarter. Simon Property Group accounts for about 1.4% of Foundry Partners LLC's holdings, making the stock its 10th biggest holding. Foundry Partners LLC owned approximately 0.05% of Simon Property Group worth $28,621,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SPG. Benjamin Edwards Inc. boosted its stake in shares of Simon Property Group by 389.7% during the third quarter. Benjamin Edwards Inc. now owns 4,897 shares of the real estate investment trust's stock valued at $828,000 after purchasing an additional 3,897 shares during the period. Ascent Group LLC boosted its position in Simon Property Group by 17.1% during the 3rd quarter. Ascent Group LLC now owns 2,282 shares of the real estate investment trust's stock valued at $386,000 after buying an additional 334 shares during the period. Holocene Advisors LP bought a new stake in Simon Property Group in the 3rd quarter worth $1,902,000. Hilltop Holdings Inc. raised its stake in shares of Simon Property Group by 113.8% during the third quarter. Hilltop Holdings Inc. now owns 5,135 shares of the real estate investment trust's stock valued at $868,000 after acquiring an additional 2,733 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Simon Property Group by 35.7% during the third quarter. Integrated Wealth Concepts LLC now owns 10,913 shares of the real estate investment trust's stock worth $1,845,000 after purchasing an additional 2,870 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

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Simon Property Group Stock Down 1.0 %

Simon Property Group stock traded down $1.41 during mid-day trading on Tuesday, hitting $141.93. The company had a trading volume of 1,367,842 shares, compared to its average volume of 1,473,434. Simon Property Group, Inc. has a 12 month low of $138.11 and a 12 month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock's 50 day moving average price is $173.36 and its two-hundred day moving average price is $174.23. The company has a market capitalization of $46.31 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.92%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

A number of research firms have commented on SPG. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $180.33.

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.