Simon Property Group, Inc. (NYSE:SPG) is Lasalle Investment Management Securities LLC’s 8th Largest Position

Lasalle Investment Management Securities LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 542,381 shares of the real estate investment trust’s stock after selling 9,401 shares during the period. Simon Property Group comprises about 3.9% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 8th biggest holding. Lasalle Investment Management Securities LLC’s holdings in Simon Property Group were worth $93,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SPG. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group in the 3rd quarter worth $834,000. First Hawaiian Bank grew its position in Simon Property Group by 35.0% in the fourth 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 in the last quarter. Versant Capital Management Inc increased its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in Simon Property Group during the fourth quarter worth about $416,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

SPG stock opened at $150.31 on Friday. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45. The firm’s 50-day moving average price is $166.96 and its two-hundred day moving average price is $172.60. 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 12-month low of $136.34 and a 12-month high of $190.14.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 predict 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 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 5.59%. The ex-dividend date was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPG. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. 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 research note on Wednesday, April 9th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.39.

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.