Harvest Fund Management Co. Ltd Sells 2,508 Shares of Simon Property Group, Inc. (NYSE:SPG)

Harvest Fund Management Co. Ltd decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 40.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the real estate investment trust’s stock after selling 2,508 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Simon Property Group were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after buying an additional 64,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Boston Partners grew its position in shares of Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock worth $431,304,000 after buying an additional 162,764 shares in the last quarter. Amundi grew its position in shares of Simon Property Group by 10.5% during the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock worth $301,088,000 after buying an additional 163,764 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after buying an additional 98,366 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Trading Down 0.3 %

Simon Property Group stock opened at $164.36 on Friday. The stock has a 50-day moving average of $176.29 and a two-hundred day moving average of $174.33. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The stock has a market cap of $53.63 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Monday, March 10th. 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.