Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 765,162 shares of the real estate investment trust's stock after selling 86,278 shares during the quarter. Alliancebernstein L.P. owned about 0.23% of Simon Property Group worth $131,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SPG. Norges Bank purchased a new position in Simon Property Group during the fourth quarter worth approximately $2,059,505,000. JPMorgan Chase & Co. increased its stake in shares of Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after acquiring an additional 246,630 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock worth $626,419,000 after acquiring an additional 64,418 shares during the period. Boston Partners boosted its position in shares of Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock valued at $431,304,000 after acquiring an additional 162,764 shares during the last quarter. Finally, Amundi grew its holdings in shares of Simon Property Group by 10.5% in the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust's stock valued at $301,088,000 after purchasing an additional 163,764 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

SPG has been the topic of a number of analyst reports. 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 on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six research 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, the stock presently has an average rating of "Hold" and an average target price of $180.33.

Simon Property Group Trading Down 2.0 %

Simon Property Group stock traded down $2.87 during midday trading on Monday, reaching $143.18. 3,517,012 shares of the stock traded hands, compared to its average volume of 1,474,711. The firm has a market cap of $46.72 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. 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 company has a 50-day simple moving average of $173.36 and a two-hundred day simple moving average of $174.23. Simon Property Group, Inc. has a 12-month low of $138.11 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's payout ratio is currently 115.70%.

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.