Mackenzie Financial Corp Trims Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Mackenzie Financial Corp cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,817 shares of the real estate investment trust's stock after selling 13,414 shares during the quarter. Mackenzie Financial Corp's holdings in Simon Property Group were worth $23,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Simon Property Group by 48.0% in the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock valued at $1,231,000 after purchasing an additional 2,320 shares in the last quarter. Brighton Jones LLC purchased a new stake in Simon Property Group during the fourth quarter worth about $295,000. CX Institutional acquired a new position in Simon Property Group during the fourth quarter worth about $233,000. Geneos Wealth Management Inc. purchased a new position in Simon Property Group in the fourth quarter valued at about $146,000. Finally, Blue Trust Inc. increased its holdings in Simon Property Group by 29.0% in the fourth quarter. Blue Trust Inc. now owns 5,598 shares of the real estate investment trust's stock valued at $946,000 after buying an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of NYSE SPG traded down $0.25 during trading on Friday, reaching $162.98. The company had a trading volume of 3,546,174 shares, compared to its average volume of 1,553,685. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The stock has a 50-day moving average price of $157.36 and a two-hundred day moving average price of $169.87. The stock has a market capitalization of $53.20 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

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 74.02% and a net margin of 41.49%. 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. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Analyst Ratings Changes

Several equities research analysts have recently commented on SPG shares. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank reduced their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler decreased 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. JPMorgan Chase & Co. dropped their price target on 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. 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 note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $179.20.

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.