KBC Group NV Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

KBC Group NV lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 854,832 shares of the real estate investment trust's stock after selling 25,477 shares during the quarter. KBC Group NV owned approximately 0.26% of Simon Property Group worth $141,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Brighton Jones LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $295,000. IFP Advisors Inc raised its holdings in shares of Simon Property Group by 4.4% during the fourth quarter. IFP Advisors Inc now owns 3,735 shares of the real estate investment trust's stock valued at $643,000 after acquiring an additional 159 shares in the last quarter. NewEdge Wealth LLC raised its holdings in shares of Simon Property Group by 15.9% during the fourth quarter. NewEdge Wealth LLC now owns 9,647 shares of the real estate investment trust's stock valued at $1,661,000 after acquiring an additional 1,320 shares in the last quarter. Kovack Advisors Inc. raised its holdings in shares of Simon Property Group by 11.4% during the fourth quarter. Kovack Advisors Inc. now owns 1,568 shares of the real estate investment trust's stock valued at $270,000 after acquiring an additional 160 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Simon Property Group by 41.5% during the fourth quarter. Private Trust Co. NA now owns 2,978 shares of the real estate investment trust's stock valued at $513,000 after acquiring an additional 874 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

SPG has been the subject of a number of recent analyst reports. Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Piper Sandler decreased their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $179.44.

Simon Property Group Stock Down 0.1%

SPG traded down $0.18 during trading on Friday, reaching $160.42. The stock had a trading volume of 2,028,837 shares, compared to its average volume of 1,534,943. The stock's 50 day moving average is $159.68 and its two-hundred day moving average is $166.84. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The company has a market capitalization of $52.36 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 8.95 and a beta of 1.47. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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. 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 for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the firm posted $3.56 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid 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 5.24%. Simon Property Group's dividend payout ratio 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.