Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Avanza Fonder AB

Avanza Fonder AB cut its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,232 shares of the real estate investment trust's stock after selling 3,325 shares during the period. Avanza Fonder AB's holdings in Simon Property Group were worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. Brighton Jones LLC bought a new stake in Simon Property Group during the 4th quarter valued at $295,000. Stratos Wealth Partners LTD. raised its position in Simon Property Group by 8.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,723 shares of the real estate investment trust's stock valued at $469,000 after purchasing an additional 212 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at $45,000. Apollon Wealth Management LLC raised its position in shares of Simon Property Group by 30.5% in the 4th quarter. Apollon Wealth Management LLC now owns 8,746 shares of the real estate investment trust's stock worth $1,506,000 after acquiring an additional 2,045 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Simon Property Group by 38.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,827 shares of the real estate investment trust's stock worth $1,176,000 after acquiring an additional 1,895 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Simon Property Group stock traded down $2.12 during trading hours on Friday, hitting $156.67. 2,090,688 shares of the stock traded hands, compared to its average volume of 1,543,297. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm's 50 day moving average price is $157.80 and its 200-day moving average price is $168.55. The stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 10.10 and a beta of 1.47. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly 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. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.56 EPS. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.36%. Simon Property Group's payout ratio is presently 133.76%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SPG shares. Stifel Nicolaus boosted their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced 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. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Mizuho reduced their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Scotiabank reduced their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Six 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 presently has a consensus rating of "Hold" and an average target price of $179.00.

Simon Property Group 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.