D. E. Shaw & Co. Inc. Sells 114,796 Shares of Simon Property Group, Inc. (NYSE:SPG)

D. E. Shaw & Co. Inc. cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 60.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,039 shares of the real estate investment trust's stock after selling 114,796 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Simon Property Group were worth $12,922,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. raised its holdings in shares of Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after buying an additional 3,990 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $416,000. SG Americas Securities LLC raised its holdings in shares of Simon Property Group by 48.0% in the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock worth $1,231,000 after buying an additional 2,320 shares in the last quarter. Vert Asset Management LLC raised its holdings in shares of Simon Property Group by 3.1% in the 4th quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock worth $21,595,000 after buying an additional 3,783 shares in the last quarter. Finally, TTP Investments Inc. raised its holdings in shares of Simon Property Group by 67.4% in the 4th quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust's stock worth $9,885,000 after buying an additional 23,109 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.3%

SPG traded up $2.12 during mid-day trading on Friday, reaching $165.15. The stock had a trading volume of 1,352,577 shares, compared to its average volume of 1,528,851. The stock has a market capitalization of $53.89 billion, a P/E ratio of 22.75, a P/E/G ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm's fifty day simple moving average is $158.09 and its two-hundred day simple moving average is $170.89. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $3.56 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.09%. Simon Property Group's dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

A number of research firms recently weighed in on SPG. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Stifel Nicolaus raised their price target on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $179.67.

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.