Applied Finance Capital Management LLC Sells 306 Shares of Simon Property Group, Inc. (NYSE:SPG)

Applied Finance Capital Management LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,378 shares of the real estate investment trust’s stock after selling 306 shares during the period. Applied Finance Capital Management LLC’s holdings in Simon Property Group were worth $926,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC boosted its holdings 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 acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group during the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group during the 4th quarter worth about $34,000. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated 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 for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Price Performance

NYSE SPG opened at $143.18 on Tuesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 10.10 and a beta of 1.45. The business has a 50 day simple moving average of $173.36 and a 200 day simple moving average of $174.23. Simon Property Group, Inc. has a 52-week low of $138.11 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.87%. Simon Property Group’s dividend payout ratio is currently 115.70%.

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.