Guggenheim Capital LLC Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Guggenheim Capital LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 88.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,372 shares of the real estate investment trust's stock after selling 104,627 shares during the quarter. Guggenheim Capital LLC's holdings in Simon Property Group were worth $2,303,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SPG. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the 3rd quarter valued at approximately $834,000. First Hawaiian Bank raised its stake in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares during the last quarter. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. grew its stake in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $416,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 2.1 %

SPG stock traded up $3.17 during trading on Thursday, reaching $156.45. 1,354,677 shares of the stock were exchanged, compared to its average volume of 1,512,988. The business has a 50 day moving average price of $164.89 and a 200-day moving average price of $172.19. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year 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 firm has a market capitalization of $51.05 billion, a price-to-earnings ratio of 21.55, a P/E/G 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 for the quarter, topping 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, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current 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 5.37%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

SPG has been the subject of a number of research reports. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank dropped their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.39.

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.