Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,935 shares of the real estate investment trust's stock after selling 10,911 shares during the quarter. Handelsbanken Fonder AB owned 0.06% of Simon Property Group worth $30,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC lifted its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group in the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the fourth quarter worth approximately $31,000. Finally, TCTC Holdings LLC purchased a new position in Simon Property Group in the fourth quarter worth approximately $34,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday. Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Scotiabank cut their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus price target of $179.00.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $2.12 during trading on Friday, reaching $156.67. The company's stock had a trading volume of 2,090,688 shares, compared to its average volume of 1,543,297. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a market capitalization of $51.14 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business has a 50 day moving average price of $157.80 and a 200-day moving average price of $168.55.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.56 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

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 issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. Simon Property Group's dividend payout ratio (DPR) is 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.