Oppenheimer Asset Management Inc. Decreases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Oppenheimer Asset Management Inc. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,237 shares of the real estate investment trust's stock after selling 3,651 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Simon Property Group were worth $2,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group in the fourth quarter worth about $31,000. Continuum Advisory LLC grew its holdings in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares during the period. Finally, TCTC Holdings LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $34,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 2.1%

Simon Property Group stock opened at $160.70 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. 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 company has a market capitalization of $52.45 billion, a P/E ratio of 25.59, a PEG ratio of 8.78 and a beta of 1.47. The stock has a 50-day simple moving average of $159.47 and a 200-day simple moving average of $167.03.

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

Simon Property Group Dividend Announcement

The business also recently disclosed 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 5.23%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Analyst Ratings Changes

SPG has been the topic of several research analyst reports. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank raised their price objective 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. JPMorgan Chase & Co. dropped their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Piper Sandler dropped their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, Stifel Nicolaus raised their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.

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