Pictet Asset Management Holding SA trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 192,159 shares of the real estate investment trust's stock after selling 5,929 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Simon Property Group worth $33,092,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group in the 3rd quarter worth about $834,000. First Hawaiian Bank increased its holdings in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its stake in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after buying an additional 421 shares in the last quarter. Asset Management One Co. Ltd. lifted 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 worth $101,130,000 after buying an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.
Simon Property Group Stock Performance
SPG traded up $4.11 during trading hours on Wednesday, hitting $170.58. The company's stock had a trading volume of 1,416,786 shares, compared to its average volume of 1,444,775. The company has a 50-day simple moving average of $175.08 and a 200 day simple moving average of $174.56. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market capitalization of $55.66 billion, a PE ratio of 23.50, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14.
Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly 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%. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.92%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average target price of $180.33.
Read Our Latest Analysis on Simon Property Group
About Simon Property Group
(
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.
Further Reading
Before you consider Simon Property Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Simon Property Group wasn't on the list.
While Simon Property Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
