Vident Advisory LLC Has $10.22 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Vident Advisory LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,335 shares of the real estate investment trust's stock after selling 13,069 shares during the quarter. Vident Advisory LLC's holdings in Simon Property Group were worth $10,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $28,000. WR Wealth Planners LLC lifted its position in shares of 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 valued at $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank dropped 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 research report on Wednesday, April 23rd. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has an average rating of "Moderate Buy" and an average price target of $179.67.

Simon Property Group Trading Down 0.4%

Shares of Simon Property Group stock opened at $164.40 on Tuesday. The stock has a fifty day simple moving average of $158.06 and a 200 day simple moving average of $170.87. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a market capitalization of $53.66 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. 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 (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 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $3.56 earnings per share. 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 earnings per share for the current fiscal 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 issued 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 5.11%. Simon Property Group's dividend payout ratio (DPR) is currently 133.76%.

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.

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