Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 299,422 shares of the real estate investment trust’s stock after selling 9,607 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Simon Property Group worth $51,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter valued at about $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $41,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $41,000. Eastern Bank acquired a new position in Simon Property Group in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised shares of 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 research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $175.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Up 1.3 %

Shares of NYSE:SPG opened at $186.24 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $187.10. The stock has a market capitalization of $60.76 billion, a P/E ratio of 25.65, a PEG ratio of 9.58 and a beta of 1.74. The stock has a 50-day simple moving average of $175.60 and a 200-day simple moving average of $171.12.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (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%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 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.