Harvest Fund Management Co. Ltd Lowers Holdings in Simon Property Group, Inc. (NYSE:SPG)

Harvest Fund Management Co. Ltd lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 40.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650 shares of the real estate investment trust's stock after selling 2,508 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Simon Property Group were worth $628,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SPG. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC raised its stake 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 worth $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group during the fourth quarter worth $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.50% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a research note on Friday. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Mizuho lifted their target price 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. 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 report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $180.33.

Simon Property Group Stock Performance

NYSE:SPG traded down $0.21 during trading hours on Tuesday, reaching $165.91. The stock had a trading volume of 1,661,777 shares, compared to its average volume of 1,341,945. The stock has a market cap of $54.13 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The stock has a 50 day simple moving average of $175.98 and a 200 day simple moving average of $174.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month 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 (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, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.