Simon Property Group, Inc. (NYSE:SPG) Short Interest Update

Simon Property Group, Inc. (NYSE:SPG) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 4,200,000 shares, a decrease of 24.7% from the February 13th total of 5,580,000 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.3% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. Finally, Scotiabank set a $186.00 price target on shares of 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 given a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Performance

Shares of SPG traded down $2.17 during trading hours on Tuesday, hitting $164.70. The company had a trading volume of 1,340,225 shares, compared to its average volume of 1,339,594. The firm has a market cap of $53.74 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 10.10 and a beta of 1.78. The business has a fifty day moving average of $176.70 and a 200-day moving average of $174.47. Simon Property Group has a 12 month low of $139.25 and a 12 month high of $190.14. 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 (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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 anticipate that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently bought and sold shares of SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC grew its stake in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Company 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.