Westpac Banking Corp cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,830 shares of the real estate investment trust's stock after selling 1,663 shares during the period. Westpac Banking Corp's holdings in Simon Property Group were worth $5,309,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Simon Property Group in the fourth quarter worth approximately $2,059,505,000. Hamlin Capital Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $109,403,000. KBC Group NV increased its stake in shares of Simon Property Group by 170.3% in the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock valued at $151,597,000 after acquiring an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust's stock valued at $93,386,000 after acquiring an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in Simon Property Group by 17,222.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust's stock worth $82,063,000 after acquiring an additional 473,779 shares in the last quarter. Institutional investors own 93.01% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. 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, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average price target of $180.33.
Check Out Our Latest Analysis on Simon Property Group
Simon Property Group Stock Up 1.3 %
NYSE:SPG traded up $1.91 during trading hours on Tuesday, hitting $145.25. 700,391 shares of the company traded hands, compared to its average volume of 1,470,742. 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 $47.39 billion, a PE ratio of 19.97, a PEG ratio of 10.10 and a beta of 1.45. The firm's 50-day simple moving average is $173.36 and its 200-day simple moving average is $174.23. Simon Property Group, Inc. has a one year low of $138.11 and a one year high of $190.14.
Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.
Simon Property Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.
Simon Property Group Company Profile
(
Free Report)
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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