Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 765,162 shares of the real estate investment trust’s stock after selling 86,278 shares during the quarter. Alliancebernstein L.P. owned about 0.23% of Simon Property Group worth $131,769,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank grew its stake in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in Simon Property Group during the fourth quarter worth approximately $416,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $170.58 on Thursday. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 10.10 and a beta of 1.45. The firm has a 50 day moving average of $175.03 and a two-hundred day moving average of $174.53. The company has a quick ratio of 2.00, a current ratio of 1.28 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.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.92%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler raised 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 report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.