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

Bessemer Group Inc. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 990,440 shares of the real estate investment trust's stock after selling 65,432 shares during the period. Bessemer Group Inc. owned approximately 0.30% of Simon Property Group worth $164,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Equity Partners increased its holdings in Simon Property Group by 54.8% in the 1st quarter. Golden State Equity Partners now owns 8,389 shares of the real estate investment trust's stock valued at $1,393,000 after purchasing an additional 2,971 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Simon Property Group during the first quarter worth $378,000. International Assets Investment Management LLC grew its stake in shares of Simon Property Group by 10.3% in the first quarter. International Assets Investment Management LLC now owns 3,035 shares of the real estate investment trust's stock valued at $504,000 after buying an additional 283 shares in the last quarter. Cornerstone Wealth Group LLC raised its holdings in shares of Simon Property Group by 5.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 24,517 shares of the real estate investment trust's stock valued at $4,072,000 after buying an additional 1,359 shares during the period. Finally, Berry Wealth Group LP purchased a new stake in shares of Simon Property Group in the 1st quarter valued at $226,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank lifted their target price on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. cut their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $179.44.

Simon Property Group Stock Down 1.7%

Shares of NYSE:SPG traded down $2.80 during trading hours on Wednesday, reaching $157.32. The stock had a trading volume of 1,379,812 shares, compared to its average volume of 1,543,005. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The firm's 50 day moving average is $159.08 and its 200-day moving average is $167.25. The stock has a market capitalization of $51.35 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 8.87 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.56 earnings per share. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Simon Property Group 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.