Simon Property Group, Inc. (NYSE:SPG) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.9% during the fourth quarter, Holdings Channel reports. The firm owned 115,262 shares of the real estate investment trust’s stock after selling 11,196 shares during the period. UniSuper Management Pty Ltd’s holdings in Simon Property Group were worth $19,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank increased its holdings in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 1,372 shares during the period. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Simon Property Group by 0.7% during 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 purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC bought a new position in Simon Property Group in the 4th quarter worth about $416,000. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Trading Down 1.5 %

Shares of SPG opened at $165.91 on Friday. 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, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The stock has a market capitalization of $54.13 billion, a P/E ratio of 22.85, a P/E/G ratio of 10.10 and a beta of 1.78. The business’s 50-day moving average price is $175.62 and its 200 day moving average price is $174.36.

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

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised 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 lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began 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, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.