Westpac Banking Corp Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Westpac Banking Corp trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,830 shares of the real estate investment trust’s stock after selling 1,663 shares during the quarter. Westpac Banking Corp’s holdings in Simon Property Group were worth $5,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC increased its holdings in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SPG shares. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started 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 target on the stock. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Price Performance

Shares of SPG opened at $170.58 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The firm’s 50-day simple moving average is $175.03 and its two-hundred day simple moving average is $174.53. The stock has a market cap of $55.66 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. 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 (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was 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.