Vanguard Group Inc. Trims Holdings in Simon Property Group, Inc. (NYSE:SPG)

Vanguard Group Inc. decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,422,495 shares of the real estate investment trust’s stock after selling 51,972 shares during the quarter. Vanguard Group Inc. owned about 13.92% of Simon Property Group worth $7,822,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the fourth quarter valued at $28,000. WR Wealth Planners LLC raised its position in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group in the fourth quarter valued at $30,000. TCTC Holdings LLC purchased a new stake in Simon Property Group in the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Simon Property Group in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPG. Jefferies Financial Group upgraded 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. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. Five investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $180.33.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Trading Down 1.4 %

SPG opened at $162.12 on Monday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business has a fifty day moving average price of $176.11 and a 200 day moving average price of $174.43.

Simon Property Group (NYSE:SPG) 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%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid 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 yield of 5.18%. Simon Property Group’s payout ratio is 115.70%.

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.