Cantor Fitzgerald Investment Advisors L.P. Cuts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Cantor Fitzgerald Investment Advisors L.P. cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,567 shares of the real estate investment trust's stock after selling 24,106 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Simon Property Group were worth $6,571,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Simon Property Group in the fourth quarter valued at about $2,059,505,000. Northern Trust Corp raised its stake in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after buying an additional 1,718,398 shares in the last quarter. Resolution Capital Ltd acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $212,592,000. GAMMA Investing LLC grew its holdings in Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after acquiring an additional 871,405 shares during the period. Finally, Capital World Investors acquired a new position in Simon Property Group during the fourth quarter worth $119,777,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $179.44.

Simon Property Group Price Performance

SPG stock opened at $156.97 on Friday. The stock's 50 day moving average price is $158.50 and its 200 day moving average price is $167.83. The firm has a market cap of $51.24 billion, a P/E ratio of 25.00, a PEG ratio of 8.76 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, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data 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. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter last year, the business posted $3.56 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect 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. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.35%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

About Simon Property Group

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.

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