Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,595 shares of the real estate investment trust’s stock after selling 278 shares during the period. Gulf International Bank UK Ltd’s holdings in Simon Property Group were worth $4,407,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. grew its stake in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after buying an additional 25,519 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Simon Property Group by 7.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after buying an additional 98,366 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Stock Down 0.9 %

Shares of NYSE:SPG opened at $182.66 on Friday. The company has a market capitalization of $59.60 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company has a 50 day moving average of $177.02 and a two-hundred day moving average of $173.39. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

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 for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Company 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.