Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,840 shares of the real estate investment trust’s stock after selling 74 shares during the quarter. Great Lakes Advisors LLC’s holdings in Simon Property Group were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPG. Charles Schwab Investment Management Inc. lifted its holdings in Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after purchasing an additional 64,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. raised its position in shares of Simon Property Group by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares during the last quarter. Amundi lifted its stake in shares of Simon Property Group by 10.5% in the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock worth $301,088,000 after buying an additional 163,764 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after acquiring an additional 98,366 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock 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 boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Stock Up 1.0 %

Shares of NYSE:SPG opened at $161.13 on Monday. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The business has a 50-day moving average price of $177.03 and a 200 day moving average price of $174.48. 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 (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 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.