OVERSEA CHINESE BANKING Corp Ltd Sells 8,295 Shares of Simon Property Group, Inc. (NYSE:SPG)

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,443 shares of the real estate investment trust's stock after selling 8,295 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Simon Property Group were worth $10,753,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank increased its position in shares of 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 valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its position 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 valued at $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings 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 acquiring an additional 3,990 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in Simon Property Group during the 4th quarter valued at about $416,000. 93.01% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value 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 represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 1.4 %

Shares of SPG traded down $2.33 on Friday, reaching $162.12. The stock had a trading volume of 3,094,006 shares, compared to its average volume of 1,342,277. The firm has a market capitalization of $52.90 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a 50-day simple moving average of $176.11 and a 200-day simple moving average of $174.37. 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 released its earnings results 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 return on equity of 74.02% and a net margin of 41.49%. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's payout ratio is presently 115.70%.

Analyst Ratings Changes

Several brokerages recently weighed in on SPG. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a report on Friday. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $180.33.

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.