Simon Property Group, Inc. (NYSE:SPG) Position Trimmed by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,748 shares of the real estate investment trust's stock after selling 4,843 shares during the period. Red Cedar Investment Management LLC's holdings in Simon Property Group were worth $2,195,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. increased its stake in shares of Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust's stock worth $442,892,000 after purchasing an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock valued at $251,484,000 after acquiring an additional 25,519 shares during the period. Los Angeles Capital Management LLC boosted its stake in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock worth $212,906,000 after purchasing an additional 993,694 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its stake in Simon Property Group by 6.9% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust's stock valued at $193,023,000 after acquiring an additional 73,742 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPG. Mizuho increased their target price 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 raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Finally, Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $175.10.

Simon Property Group Stock Down 0.1 %

Shares of NYSE:SPG traded down $0.16 during trading on Wednesday, hitting $185.88. The company's stock had a trading volume of 783,141 shares, compared to its average volume of 1,303,497. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The company has a market capitalization of $60.65 billion, a PE ratio of 25.60, a P/E/G ratio of 10.00 and a beta of 1.74. 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 business has a 50 day moving average price of $175.91 and a two-hundred day moving average price of $172.16.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (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, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.52%. Simon Property Group's dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by corporate insiders.

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.