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

Voloridge Investment Management LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 60.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,605 shares of the real estate investment trust's stock after selling 226,892 shares during the period. Voloridge Investment Management LLC's holdings in Simon Property Group were worth $25,419,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. raised its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after buying an additional 3,990 shares during the period. Merit Financial Group LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $416,000. SG Americas Securities LLC grew its position in Simon Property Group by 48.0% in the fourth quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock valued at $1,231,000 after acquiring an additional 2,320 shares in the last quarter. Vert Asset Management LLC grew its position in Simon Property Group by 3.1% in the fourth quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock valued at $21,595,000 after acquiring an additional 3,783 shares in the last quarter. Finally, TTP Investments Inc. grew its position in Simon Property Group by 67.4% in the fourth quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust's stock valued at $9,885,000 after acquiring an additional 23,109 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank lowered their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday. Piper Sandler lowered their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday. Stifel Nicolaus increased their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average target price of $179.20.

Simon Property Group Stock Performance

SPG traded down $1.10 during trading hours on Friday, hitting $156.85. 1,268,530 shares of the stock were exchanged, compared to its average volume of 1,543,570. The stock has a 50-day simple moving average of $157.74 and a 200-day simple moving average of $170.51. 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 $51.20 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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 firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the business posted $3.56 earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate 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 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 5.36%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

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.