Simon Property Group, Inc. (NYSE:SPG) Holdings Decreased by Payden & Rygel

Payden & Rygel trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,950 shares of the real estate investment trust's stock after selling 5,100 shares during the period. Payden & Rygel's holdings in Simon Property Group were worth $15,835,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPG. Benjamin Edwards Inc. increased its position in Simon Property Group by 389.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,897 shares of the real estate investment trust's stock valued at $828,000 after buying an additional 3,897 shares in the last quarter. Holocene Advisors LP bought a new position in Simon Property Group in the 3rd quarter worth about $1,902,000. Integrated Wealth Concepts LLC grew its position in Simon Property Group by 35.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,913 shares of the real estate investment trust's stock valued at $1,845,000 after purchasing an additional 2,870 shares during the last quarter. IHT Wealth Management LLC increased its stake in Simon Property Group by 29.6% during the 3rd quarter. IHT Wealth Management LLC now owns 5,270 shares of the real estate investment trust's stock valued at $891,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in Simon Property Group in the third quarter worth about $155,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price target on the stock. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research report on Wednesday. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.39.

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Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $4.65 on Thursday, reaching $148.53. 974,871 shares of the stock were exchanged, compared to its average volume of 1,492,973. 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 firm has a market capitalization of $48.46 billion, a PE ratio of 20.31, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The business has a fifty day moving average price of $171.10 and a two-hundred day moving average price of $173.55.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.66%. Simon Property Group's payout ratio is currently 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.