Stifel Financial Corp Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Stifel Financial Corp trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,223 shares of the real estate investment trust's stock after selling 1,791 shares during the period. Stifel Financial Corp owned 0.11% of Simon Property Group worth $63,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter worth $2,059,505,000. Geode Capital Management LLC raised its stake in Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after purchasing an additional 230,982 shares during the period. JPMorgan Chase & Co. boosted its holdings in Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after purchasing an additional 246,630 shares during the last quarter. Invesco Ltd. grew its stake in shares of Simon Property Group by 14.8% in the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after buying an additional 542,511 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock worth $626,419,000 after buying an additional 64,418 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

NYSE:SPG opened at $150.63 on Wednesday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a fifty day simple moving average of $165.52 and a two-hundred day simple moving average of $172.32. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market cap of $49.15 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Dividend Announcement

The company also recently announced 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 5.58%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective on the stock in a report on Wednesday, April 9th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.39.

About Simon Property Group

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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