Man Group plc Has $258,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Man Group plc cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 68.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the real estate investment trust's stock after selling 3,254 shares during the period. Man Group plc's holdings in Simon Property Group were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pitcairn Co. increased its holdings in Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 55 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares during the last quarter. Childress Capital Advisors LLC raised its holdings in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after acquiring an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after acquiring an additional 59 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in Simon Property Group by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after acquiring an additional 60 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. 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 note on Friday, May 23rd. Scotiabank dropped their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced 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 note on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $179.20.

Simon Property Group Trading Up 1.3%

Shares of Simon Property Group stock traded up $2.10 on Thursday, reaching $163.31. 1,337,259 shares of the company were exchanged, compared to its average volume of 1,547,140. 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 fifty-two week low of $136.34 and a fifty-two week high of $190.14. The firm has a market capitalization of $53.31 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock has a fifty day moving average price of $157.48 and a 200-day moving average price of $170.16.

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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $3.56 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company 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 dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.14%. Simon Property Group's dividend payout ratio 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.