Deutsche Bank AG Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Deutsche Bank AG cut its holdings in Simon Property Group, Inc. (NYSE:SPGFree Report) by 39.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,224,075 shares of the real estate investment trust’s stock after selling 1,433,355 shares during the quarter. Deutsche Bank AG’s holdings in Simon Property Group were worth $240,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Simon Property Group by 19.8% in the second quarter. CWM LLC now owns 4,804 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 794 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Simon Property Group by 5.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,301 shares of the real estate investment trust’s stock worth $728,000 after purchasing an additional 302 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Simon Property Group by 13.2% in the second quarter. Great West Life Assurance Co. Can now owns 587,613 shares of the real estate investment trust’s stock worth $68,091,000 after purchasing an additional 68,499 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Simon Property Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust’s stock worth $229,897,000 after purchasing an additional 26,491 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its stake in shares of Simon Property Group by 45.9% in the third quarter. Achmea Investment Management B.V. now owns 56,376 shares of the real estate investment trust’s stock worth $6,090,000 after purchasing an additional 17,728 shares during the last quarter. 84.73% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG stock opened at $147.37 on Monday. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $147.37. The company has a debt-to-equity ratio of 7.54, a quick ratio of 0.94 and a current ratio of 1.77. The stock’s 50 day moving average price is $141.16 and its 200 day moving average price is $123.74. The firm has a market cap of $48.08 billion, a P/E ratio of 21.05, a PEG ratio of 7.06 and a beta of 1.65.

Simon Property Group (NYSE:SPGGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $3.15 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.04 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $1.95 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date is Thursday, March 7th. This represents a $7.80 annualized dividend and a dividend yield of 5.29%. Simon Property Group’s dividend payout ratio (DPR) is presently 108.88%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Stifel Nicolaus cut their price target on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Truist Financial raised their target price on Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Finally, Morgan Stanley cut Simon Property Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $132.00 to $143.00 in a research note on Thursday, December 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.75.

View Our Latest Report on Simon Property Group

Simon Property Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPGFree Report).

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.