Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC lowered its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 26.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,843 shares of the real estate investment trust's stock after selling 2,052 shares during the period. Snowden Capital Advisors LLC's holdings in Simon Property Group were worth $1,006,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in Simon Property Group by 3.3% in the fourth quarter. Royal Bank of Canada now owns 1,351,953 shares of the real estate investment trust's stock valued at $232,820,000 after buying an additional 42,771 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $300,000. Resolution Capital Ltd bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $212,592,000. ProShare Advisors LLC increased its holdings in shares of Simon Property Group by 6.8% in the 4th quarter. ProShare Advisors LLC now owns 59,758 shares of the real estate investment trust's stock valued at $10,291,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Simon Property Group by 21.5% during the 4th quarter. Quantinno Capital Management LP now owns 58,576 shares of the real estate investment trust's stock valued at $10,087,000 after acquiring an additional 10,354 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Down 0.4%

Simon Property Group stock opened at $164.40 on Tuesday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market capitalization of $53.66 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 10.10 and a beta of 1.43. The firm has a 50-day moving average price of $158.06 and a two-hundred day moving average price of $170.87.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.56 EPS. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPG shares. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus lifted their price target on shares of 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 upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank cut their target price 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $179.67.

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.

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