Handelsbanken Fonder AB Sells 10,911 Shares of Simon Property Group, Inc. (NYSE:SPG)

Handelsbanken Fonder AB cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,935 shares of the real estate investment trust's stock after selling 10,911 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Simon Property Group worth $30,548,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPG. Asset Management One Co. Ltd. boosted its stake in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $295,000. Allworth Financial LP lifted its stake in Simon Property Group by 140.6% in the fourth quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust's stock valued at $545,000 after purchasing an additional 1,842 shares during the last quarter. Principal Securities Inc. grew its holdings in Simon Property Group by 4.2% during the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock valued at $713,000 after purchasing an additional 166 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Simon Property Group by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock worth $62,322,000 after buying an additional 25,987 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPG. JPMorgan Chase & Co. cut their target price 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 dropped 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. Stifel Nicolaus lifted their price target on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and a consensus target price of $179.00.

Simon Property Group Price Performance

Shares of SPG stock traded down $0.93 during trading on Thursday, hitting $158.77. The company had a trading volume of 520,459 shares, compared to its average volume of 1,535,331. The stock's 50-day moving average is $157.15 and its two-hundred day moving average is $168.88. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. 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 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.56 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.29%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is currently 133.76%.

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.