Voya Investment Management LLC Trims Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Voya Investment Management LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,241 shares of the real estate investment trust's stock after selling 10,535 shares during the quarter. Voya Investment Management LLC owned 0.06% of Simon Property Group worth $31,212,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the fourth quarter worth approximately $28,000. WR Wealth Planners LLC raised its stake 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 worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group in the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC purchased a new stake in Simon Property Group in the 4th quarter worth $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.4 %

Shares of SPG traded up $2.12 during midday trading on Monday, reaching $158.78. The company had a trading volume of 1,551,689 shares, compared to its average volume of 1,515,428. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. 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 firm has a 50 day simple moving average of $163.19 and a 200-day simple moving average of $172.01. The stock has a market cap of $51.81 billion, a PE ratio of 21.87, 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 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 net margin of 41.49% and a return on equity of 74.02%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.29%. Simon Property Group's payout ratio is 115.70%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPG. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank cut their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Simon Property Group presently has an average rating of "Moderate Buy" and a consensus target price of $178.39.

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.