Legal & General Group Plc Cuts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Legal & General Group Plc lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,739,279 shares of the real estate investment trust’s stock after selling 855,726 shares during the period. Legal & General Group Plc owned approximately 1.15% of Simon Property Group worth $643,941,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after purchasing an additional 542,511 shares during the period. Unigestion Holding SA raised its holdings in Simon Property Group by 875.3% during the fourth quarter. Unigestion Holding SA now owns 37,794 shares of the real estate investment trust’s stock worth $6,509,000 after purchasing an additional 33,919 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Simon Property Group by 20.7% during the 4th quarter. Federated Hermes Inc. now owns 45,859 shares of the real estate investment trust’s stock worth $7,897,000 after buying an additional 7,865 shares during the last quarter. Waterloo Capital L.P. boosted its position in shares of Simon Property Group by 0.5% in the 4th quarter. Waterloo Capital L.P. now owns 21,989 shares of the real estate investment trust’s stock worth $3,787,000 after buying an additional 101 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Simon Property Group by 4.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,493,987 shares of the real estate investment trust’s stock valued at $257,241,000 after acquiring an additional 64,802 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Price Performance

Shares of SPG opened at $146.15 on Monday. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 10.10 and a beta of 1.45. 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’s 50-day moving average is $174.03 and its 200-day moving average is $174.40. Simon Property Group, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.75%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 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.