Pictet Asset Management Holding SA Has $33.09 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Pictet Asset Management Holding SA cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,159 shares of the real estate investment trust’s stock after selling 5,929 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Simon Property Group worth $33,092,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank grew its position in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Versant Capital Management Inc increased its stake in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. raised its holdings in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $416,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 1.0 %

Shares of NYSE SPG opened at $164.21 on Monday. The stock has a market cap of $53.58 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm has a 50 day moving average price of $175.42 and a two-hundred day moving average price of $174.53. 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 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.12%. Simon Property Group’s payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $180.33.

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.