Simon Property Group, Inc. (NYSE:SPG) Shares Sold by QS Investors LLC

QS Investors LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,713 shares of the real estate investment trust’s stock after selling 1,153 shares during the quarter. QS Investors LLC’s holdings in Simon Property Group were worth $2,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SPG. Acadian Asset Management LLC boosted its position in shares of Simon Property Group by 51.7% in the 1st quarter. Acadian Asset Management LLC now owns 21,813 shares of the real estate investment trust’s stock worth $2,481,000 after buying an additional 7,430 shares in the last quarter. Brinker Capital Investments LLC acquired a new position in shares of Simon Property Group during the 1st quarter valued at about $228,000. Quilter Plc acquired a new stake in Simon Property Group during the 1st quarter worth approximately $217,000. CIBC Private Wealth Group LLC acquired a new stake in Simon Property Group during the 1st quarter worth approximately $232,000. Finally, Ensign Peak Advisors Inc increased its position in Simon Property Group by 30.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 262,729 shares of the real estate investment trust’s stock worth $29,890,000 after purchasing an additional 61,848 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors.

Shares of NYSE:SPG opened at $137.15 on Thursday. Simon Property Group, Inc. has a 1-year low of $59.35 and a 1-year high of $137.56. The firm has a market capitalization of $45.07 billion, a PE ratio of 29.95, a PEG ratio of 1.70 and a beta of 1.54. The business’s 50 day moving average is $132.51 and its 200-day moving average is $127.36. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 7.16.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Sunday, August 1st. The real estate investment trust reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.81). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.13 billion. Simon Property Group had a net margin of 31.67% and a return on equity of 43.97%. Simon Property Group’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 10.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 9th were paid a $1.50 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, September 8th. This represents a $6.00 annualized dividend and a yield of 4.37%. Simon Property Group’s payout ratio is currently 65.86%.

SPG has been the subject of a number of analyst reports. Zacks Investment Research cut Simon Property Group from a “buy” rating to a “hold” rating and set a $141.00 price target for the company. in a report on Monday, October 4th. Morgan Stanley increased their target price on Simon Property Group from $150.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. BTIG Research increased their target price on Simon Property Group from $125.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 27th. Truist raised their price objective on Simon Property Group from $130.00 to $136.00 and gave the stock a “hold” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Finally, Scotiabank increased their target price on Simon Property Group from $117.00 to $138.00 and gave the stock a “sector perform” rating in a research report on Monday, June 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.83.

About Simon Property Group

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

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

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