Simon Property Group, Inc. (NYSE:SPG) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 56.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,810 shares of the real estate investment trust’s stock after selling 27,712 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Simon Property Group were worth $3,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC lifted 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 worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group during the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on SPG. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Trading Up 1.5 %

Shares of SPG opened at $150.31 on Monday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The stock has a market capitalization of $49.04 billion, a P/E ratio of 20.70, a P/E/G ratio of 10.10 and a beta of 1.45. The business’s 50-day moving average price is $166.96 and its 200 day moving average price is $172.63.

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

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.59%. Simon Property Group’s dividend payout ratio is 115.70%.

About Simon Property Group

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.