BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 56.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,810 shares of the real estate investment trust's stock after selling 27,712 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Simon Property Group were worth $3,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPG. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank dropped their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $178.39.

Simon Property Group Stock Performance

Simon Property Group stock traded up $3.17 during trading hours on Thursday, reaching $156.45. 1,696,030 shares of the stock were exchanged, compared to its average volume of 1,514,603. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. 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 firm's 50 day moving average is $164.89 and its 200 day moving average is $172.19. The stock has a market cap of $51.05 billion, a P/E ratio of 21.55, a P/E/G ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.37%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.