MML Investors Services LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,117 shares of the real estate investment trust's stock after selling 7,622 shares during the period. MML Investors Services LLC's holdings in Simon Property Group were worth $9,492,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group during the third quarter worth $834,000. First Hawaiian Bank boosted its position in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc grew its stake in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $416,000. 93.01% of the stock is owned by institutional investors and hedge funds.
Simon Property Group Trading Up 0.3 %
Simon Property Group stock traded up $0.49 during midday trading on Friday, reaching $156.69. The stock had a trading volume of 1,421,754 shares, compared to its average volume of 1,515,281. The stock has a market capitalization of $51.12 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. 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 stock's 50-day simple moving average is $163.73 and its 200 day simple moving average is $172.07. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.
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 expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.36%. Simon Property Group's dividend payout ratio is currently 115.70%.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Scotiabank decreased their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Stifel Nicolaus upgraded 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 report on Wednesday, April 9th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.39.
Get Our Latest Research Report on Simon Property Group
Simon Property Group Company Profile
(
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.
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