Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,422,495 shares of the real estate investment trust's stock after selling 51,972 shares during the period. Vanguard Group Inc. owned approximately 13.92% of Simon Property Group worth $7,822,208,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank grew its stake in Simon Property Group by 35.0% during the fourth 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 during the period. Versant Capital Management Inc grew its stake in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after buying an additional 421 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Simon Property Group by 0.7% in 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 in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.

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Simon Property Group Stock Down 0.1 %

NYSE SPG traded down $0.21 during trading hours on Tuesday, reaching $165.91. 1,661,777 shares of the company traded hands, compared to its average volume of 1,342,980. The stock has a market capitalization of $54.13 billion, a PE ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The company has a 50 day moving average of $175.98 and a two-hundred day moving average of $174.45.

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 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%. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company 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 report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $180.33.

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.