Simon Property Group, Inc. (NYSE:SPG) Short Interest Up 23.8% in March

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,200,000 shares, an increase of 23.8% from the February 28th total of 4,200,000 shares. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.6% of the shares of the company are short sold.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $7.04 during trading on Friday, reaching $146.15. The company had a trading volume of 3,679,910 shares, compared to its average volume of 1,466,381. The company has a fifty day moving average of $174.03 and a two-hundred day moving average of $174.33. Simon Property Group has a 12 month low of $139.25 and a 12 month high of $190.14. 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 stock has a market capitalization of $47.68 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued 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%. Equities research analysts forecast that Simon Property Group will post 12.54 earnings per share for the current year.

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Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.75%. Simon Property Group's dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

Several equities analysts recently commented on SPG shares. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Piper Sandler raised 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 report on Wednesday, February 5th. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of "Hold" and an average target price of $180.33.

Institutional Trading of Simon Property Group

A number of hedge funds have recently bought and sold shares of the company. Quent Capital LLC grew its position in Simon Property Group by 17.1% during the first quarter. Quent Capital LLC now owns 588 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 86 shares during the period. Moody National Bank Trust Division increased its stake in shares of Simon Property Group by 5.9% in the 1st quarter. Moody National Bank Trust Division now owns 1,394 shares of the real estate investment trust's stock worth $232,000 after purchasing an additional 78 shares in the last quarter. Versant Capital Management Inc raised its holdings in Simon Property Group by 93.6% in the 1st quarter. Versant Capital Management Inc now owns 1,934 shares of the real estate investment trust's stock worth $321,000 after purchasing an additional 935 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Simon Property Group by 13.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,356 shares of the real estate investment trust's stock valued at $225,000 after purchasing an additional 165 shares in the last quarter. Finally, Chancellor Financial Group WB LP purchased a new stake in Simon Property Group in the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

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.