Woodline Partners LP Sells 19,851 Shares of Simon Property Group, Inc. (NYSE:SPG)

Woodline Partners LP lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,543 shares of the real estate investment trust's stock after selling 19,851 shares during the period. Woodline Partners LP's holdings in Simon Property Group were worth $9,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter worth approximately $28,000. WR Wealth Planners LLC boosted its position in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Simon Property Group stock traded up $0.11 during mid-day trading on Wednesday, reaching $160.32. The company's stock had a trading volume of 307,095 shares, compared to its average volume of 1,677,057. The firm has a market cap of $52.33 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 10.10 and a beta of 1.43. The business has a 50 day moving average price of $157.50 and a 200-day moving average price of $170.23. 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 twelve month low of $136.34 and a twelve month high of $190.13.

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 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $3.56 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

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 given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is 133.76%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPG. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. dropped their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. 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. Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $179.20.

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.