Legal & General Group Plc lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,739,279 shares of the real estate investment trust's stock after selling 855,726 shares during the period. Legal & General Group Plc owned 1.15% of Simon Property Group worth $643,941,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group in the third quarter valued at approximately $834,000. First Hawaiian Bank lifted its holdings 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 valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. boosted 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 worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.
Simon Property Group Trading Up 0.2 %
Shares of SPG traded up $0.29 during trading on Friday, reaching $147.98. 1,712,797 shares of the company traded hands, compared to its average volume of 1,499,610. The stock has a 50-day simple moving average of $170.08 and a 200-day simple moving average of $173.25. The stock has a market cap of $48.28 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.
Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.
Simon Property Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.
Analysts Set New Price Targets
A number of research firms recently weighed in on SPG. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock 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 increased their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. 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 note on Wednesday. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and an average target price of $181.39.
View Our Latest Stock Report on SPG
Simon Property Group Profile
(
Free Report)
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.
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