Lasalle Investment Management Securities LLC Sells 9,401 Shares of Simon Property Group, Inc. (NYSE:SPG)

Lasalle Investment Management Securities LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 542,381 shares of the real estate investment trust's stock after selling 9,401 shares during the period. Simon Property Group comprises approximately 3.9% of Lasalle Investment Management Securities LLC's holdings, making the stock its 8th largest position. Lasalle Investment Management Securities LLC owned approximately 0.17% of Simon Property Group worth $93,403,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pitcairn Co. grew its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 55 shares in the last quarter. Childress Capital Advisors LLC lifted its stake in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. grew its position in Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 59 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Simon Property Group by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after purchasing an additional 60 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

SPG stock traded up $3.17 on Thursday, reaching $156.45. 1,696,030 shares of the company were exchanged, compared to its average volume of 1,512,989. 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 12 month low of $136.34 and a 12 month high of $190.14. The stock's fifty day moving average price is $164.89 and its 200 day moving average price is $172.19. The firm has a market capitalization of $51.05 billion, a PE ratio of 21.55, a PEG ratio of 10.10 and a beta of 1.45.

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 EPS for the quarter, beating 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%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Monday, March 10th. Simon Property Group's payout ratio is presently 115.70%.

Analyst Ratings Changes

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

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.