Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 71.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,887 shares of the real estate investment trust's stock after selling 14,863 shares during the quarter. Stevens Capital Management LP's holdings in Simon Property Group were worth $1,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC lifted its holdings in shares of 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 valued at $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group during the 4th quarter worth $30,000. TCTC Holdings LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $34,000. Finally, Synergy Asset Management LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Finally, Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Five investment 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.33.

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Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $0.21 during trading on Tuesday, reaching $165.91. The stock had a trading volume of 1,661,639 shares, compared to its average volume of 1,341,945. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The firm's 50 day moving average price is $175.98 and its two-hundred day moving average price is $174.45. The stock has a market cap of $54.13 billion, a PE ratio of 22.85, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly 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 net margin of 41.49% and a return on equity of 74.02%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. Simon Property Group's dividend payout ratio is presently 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.