Guggenheim Capital LLC Trims Position in Simon Property Group, Inc. (NYSE:SPG)

Guggenheim Capital LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 88.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,372 shares of the real estate investment trust’s stock after selling 104,627 shares during the quarter. Guggenheim Capital LLC’s holdings in Simon Property Group were worth $2,303,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC raised its stake 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 purchased a new position in Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC purchased a new stake in Simon Property Group during the 4th quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPG. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective for the company in a report on Wednesday, April 9th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.39.

Simon Property Group Stock Performance

NYSE SPG opened at $150.31 on Friday. The company has a market cap of $49.04 billion, a P/E ratio of 20.70, a P/E/G ratio of 10.10 and a beta of 1.45. The business’s 50 day moving average price is $166.96 and its 200-day moving average price is $172.60. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. 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 data 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 predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is currently 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.