Minneapolis Portfolio Management Group LLC Sells 55,978 Shares of Simon Property Group, Inc. (NYSE:SPG)

Minneapolis Portfolio Management Group LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,238 shares of the real estate investment trust's stock after selling 55,978 shares during the quarter. Simon Property Group accounts for approximately 4.1% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 9th largest holding. Minneapolis Portfolio Management Group LLC owned 0.05% of Simon Property Group worth $30,867,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter worth $834,000. First Hawaiian Bank lifted its position in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 buying an additional 421 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% in 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 acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $416,000. 93.01% of the stock is currently owned by institutional investors.

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Simon Property Group Stock Performance

Shares of SPG stock traded down $0.21 during midday trading on Tuesday, hitting $165.91. 1,661,777 shares of the company were exchanged, compared to its average volume of 1,342,980. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The firm has a market capitalization of $54.13 billion, a P/E ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The firm's 50 day moving average price is $175.83 and its two-hundred day moving average price is $174.46. 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 (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 (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. 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 payout ratio is 115.70%.

Analysts Set New Price Targets

Several research analysts recently commented on SPG shares. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Piper Sandler upgraded 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 research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price target on the stock. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $180.33.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm's stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 8.50% of the company's stock.

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.