Simon Property Group, Inc. (NYSE:SPG) Holdings Decreased by Pinebridge Investments L.P.

Pinebridge Investments L.P. cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 34.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 166,742 shares of the real estate investment trust's stock after selling 89,065 shares during the quarter. Pinebridge Investments L.P. owned 0.05% of Simon Property Group worth $28,715,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Norges Bank bought a new stake in Simon Property Group during the fourth quarter worth approximately $2,059,505,000. Capital World Investors acquired a new position in shares of Simon Property Group in the 4th quarter valued at $119,777,000. Hamlin Capital Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $109,403,000. KBC Group NV lifted its stake in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after buying an additional 542,511 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 2.3 %

SPG opened at $150.63 on Wednesday. The company has a market capitalization of $49.15 billion, a P/E ratio of 20.75, a P/E/G ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm's fifty day moving average price is $165.52 and its two-hundred day moving average price is $172.32. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14.

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 analysts' consensus estimates 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 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. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note 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 company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.39.

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.

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