Simon Property Group, Inc. (NYSE:SPG) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,437 shares of the real estate investment trust's stock after selling 1,605 shares during the period. KG&L Capital Management LLC's holdings in Simon Property Group were worth $1,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. Norges Bank bought a new stake in Simon Property Group in the fourth quarter worth $2,059,505,000. Geode Capital Management LLC grew its position in Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after buying an additional 230,982 shares during the period. Northern Trust Corp lifted its position in Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after purchasing an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after acquiring an additional 246,630 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after purchasing an additional 542,511 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 2.1%

Shares of NYSE:SPG traded up $3.30 during trading hours on Thursday, reaching $160.70. The stock had a trading volume of 1,788,162 shares, compared to its average volume of 1,542,618. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 8.93 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. The firm's 50 day moving average is $159.27 and its 200-day moving average is $167.18.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating 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 company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the previous year, the business earned $3.56 earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm 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 dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Piper Sandler cut their price target 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 lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. JPMorgan Chase & Co. cut their price target on 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. Finally, 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 report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $179.44.

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.