Unigestion Holding SA Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Unigestion Holding SA lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,918 shares of the real estate investment trust's stock after selling 3,876 shares during the quarter. Unigestion Holding SA's holdings in Simon Property Group were worth $5,633,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Simon Property Group in the fourth quarter valued at approximately $2,059,505,000. Northern Trust Corp grew its stake in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after acquiring an additional 1,718,398 shares during the period. Resolution Capital Ltd purchased a new stake in Simon Property Group in the 4th quarter worth about $212,592,000. GAMMA Investing LLC raised its stake in Simon Property Group by 16,346.0% in the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock valued at $145,608,000 after acquiring an additional 871,405 shares during the period. Finally, Capital World Investors purchased a new stake in Simon Property Group during the fourth quarter valued at about $119,777,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of SPG traded up $0.02 during trading hours on Wednesday, reaching $161.80. 994,740 shares of the company's stock traded hands, compared to its average volume of 1,549,401. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $52.82 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The firm's 50 day simple moving average is $157.17 and its 200-day simple moving average is $169.64.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $3.56 earnings per share. Simon Property Group's revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given 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 5.19%. Simon Property Group's payout ratio is 133.76%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SPG shares. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Scotiabank cut 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 report on Wednesday, April 23rd. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $179.20.

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.