Simon Property Group, Inc. (NYSE:SPG) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 18.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,215 shares of the real estate investment trust's stock after selling 13,399 shares during the period. USS Investment Management Ltd's holdings in Simon Property Group were worth $10,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the 4th quarter worth about $28,000. WR Wealth Planners LLC grew its position in Simon Property Group by 328.2% during the 4th 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 period. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Down 1.0%

SPG stock opened at $162.89 on Wednesday. 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 12-month low of $136.34 and a 12-month high of $190.14. The stock has a market cap of $53.17 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 10.10 and a beta of 1.43. The business's 50-day moving average is $158.13 and its 200 day moving average is $170.81.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $3.56 EPS. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPG. Scotiabank cut their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus raised their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and a consensus 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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