Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 20.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,564 shares of the real estate investment trust’s stock after selling 1,153 shares during the quarter. Stephens Inc. AR’s holdings in Simon Property Group were worth $410,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. NewEdge Wealth LLC acquired a new stake in Simon Property Group in the second quarter valued at $519,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Simon Property Group by 725.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 67,601 shares of the real estate investment trust’s stock worth $6,417,000 after acquiring an additional 59,410 shares in the last quarter. Pendal Group Ltd purchased a new stake in Simon Property Group during the third quarter worth approximately $985,000. Allworth Financial LP boosted its holdings in Simon Property Group by 55.6% in the third quarter. Allworth Financial LP now owns 490 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 175 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in Simon Property Group in the second quarter valued at approximately $37,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPG shares. Piper Sandler upped their target price on shares of Simon Property Group from $130.00 to $145.00 in a report on Tuesday, January 17th. Evercore ISI reduced their target price on shares of Simon Property Group to $114.00 in a report on Thursday, October 20th. Deutsche Bank Aktiengesellschaft raised their price target on Simon Property Group from $115.00 to $130.00 in a report on Tuesday, January 3rd. Wolfe Research initiated coverage on Simon Property Group in a research note on Tuesday, October 18th. They set a “peer perform” rating for the company. Finally, Citigroup upped their price target on Simon Property Group from $100.00 to $120.00 in a research note on Wednesday, December 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.00.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $124.97 on Tuesday. The company’s fifty day moving average is $119.00 and its two-hundred day moving average is $108.74. The company has a debt-to-equity ratio of 7.17, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $40.86 billion, a P/E ratio of 20.86, a PEG ratio of 2.68 and a beta of 1.47. Simon Property Group, Inc. has a one year low of $86.02 and a one year high of $151.87.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were given a dividend of $1.80 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Thursday, December 8th. Simon Property Group’s dividend payout ratio is presently 120.20%.

Simon Property Group Profile

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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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