Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,096 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Freedom Investment Management Inc.’s holdings in Simon Property Group were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $2,059,505,000. Hamlin Capital Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth $109,403,000. KBC Group NV grew its holdings in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Invesco Ltd. raised its position in Simon Property Group by 14.8% during 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 buying an additional 542,511 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Simon Property Group by 22,608.6% in the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after acquiring an additional 539,893 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

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

Simon Property Group Stock Performance

NYSE:SPG opened at $147.58 on Tuesday. The firm has a market capitalization of $48.15 billion, a PE ratio of 20.33, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm’s fifty day simple moving average is $166.24 and its 200 day simple moving average is $172.48.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.69%. Simon Property Group’s dividend payout ratio is currently 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.