KBC Group NV lessened its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 4.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,180 shares of the real estate investment trust's stock after selling 1,000 shares during the quarter. KBC Group NV's holdings in Simon Property Group were worth $2,655,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. CWM LLC lifted its position in Simon Property Group by 42.9% in the 1st quarter. CWM LLC now owns 2,137 shares of the real estate investment trust's stock worth $281,000 after buying an additional 642 shares in the last quarter. Tobias Financial Advisors Inc. purchased a new stake in Simon Property Group in the 4th quarter worth approximately $28,939,000. CENTRAL TRUST Co lifted its position in Simon Property Group by 18.8% in the 1st quarter. CENTRAL TRUST Co now owns 980 shares of the real estate investment trust's stock worth $129,000 after buying an additional 155 shares in the last quarter. MML Investors Services LLC lifted its position in Simon Property Group by 13.1% in the 4th quarter. MML Investors Services LLC now owns 15,673 shares of the real estate investment trust's stock worth $2,504,000 after buying an additional 1,812 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Simon Property Group by 6.9% in the 4th quarter. LPL Financial LLC now owns 214,724 shares of the real estate investment trust's stock worth $34,306,000 after buying an additional 13,802 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.
Get Simon Property Group alerts:Simon Property Group Stock Performance
NYSE:SPG opened at $106.50 on Friday. Simon Property Group, Inc. has a 1 year low of $93.06 and a 1 year high of $171.12. The firm's fifty day simple moving average is $101.77 and its 200 day simple moving average is $120.75. The company has a current ratio of 1.02, a quick ratio of 1.10 and a debt-to-equity ratio of 7.13. The firm has a market capitalization of $35.00 billion, a PE ratio of 16.61, a PEG ratio of 2.48 and a beta of 1.49.
Simon Property Group (NYSE:SPG – Get Rating) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $2.92 EPS. Simon Property Group's revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 11.7 EPS for the current year.Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 6.57%. This is a positive change from Simon Property Group's previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Thursday, September 8th. Simon Property Group's dividend payout ratio (DPR) is currently 106.08%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on SPG shares. UBS Group increased their target price on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Piper Sandler dropped their price target on shares of Simon Property Group to $130.00 in a research note on Monday, July 4th. Mizuho dropped their price target on shares of Simon Property Group from $158.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Simon Property Group from $145.00 to $133.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.07.
Simon Property Group Company Profile
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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
Further Reading
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