Guggenheim Capital LLC Trims Stake in Simon Property Group, Inc. (NYSE:SPG)

Guggenheim Capital LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 88.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,372 shares of the real estate investment trust's stock after selling 104,627 shares during the period. Guggenheim Capital LLC's holdings in Simon Property Group were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased 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 fourth 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 in the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group in the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SPG. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. 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 shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. Finally, Scotiabank decreased their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Trading Up 0.7 %

Simon Property Group stock traded up $1.07 during trading hours on Friday, reaching $157.27. The company had a trading volume of 464,485 shares, compared to its average volume of 1,510,536. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a 50-day moving average price of $164.32 and a 200 day moving average price of $172.12. The firm has a market cap of $51.31 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

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.