Franklin Resources Inc. Trims Position in Simon Property Group, Inc. (NYSE:SPG)

Franklin Resources Inc. trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 757,371 shares of the real estate investment trust's stock after selling 62,550 shares during the period. Franklin Resources Inc. owned 0.23% of Simon Property Group worth $130,427,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC raised its position 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 purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group during the 4th quarter valued at approximately $34,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Down 2.9 %

NYSE:SPG traded down $4.20 on Monday, hitting $141.85. The stock had a trading volume of 1,405,779 shares, compared to its average volume of 1,602,025. The company has a fifty day moving average price of $174.03 and a two-hundred day moving average price of $174.40. Simon Property Group, Inc. has a 1-year low of $138.11 and a 1-year high of $190.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $46.28 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 10.10 and a beta of 1.45.

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Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. Equities research 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.92%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Jefferies Financial Group upgraded 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. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $180.33.

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.