J. Safra Sarasin Holding AG Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

J. Safra Sarasin Holding AG reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 61.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,790 shares of the real estate investment trust's stock after selling 17,173 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Simon Property Group were worth $1,858,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPG. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC grew its holdings in 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 purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a research note on Wednesday, April 9th. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Scotiabank decreased 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. Five 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 "Moderate Buy" and an average price target of $178.39.

Simon Property Group Price Performance

SPG stock traded down $0.23 during trading on Monday, hitting $156.43. 272,318 shares of the company's stock traded hands, compared to its average volume of 1,510,514. The business has a fifty day simple moving average of $163.73 and a 200 day simple moving average of $172.09. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market capitalization of $51.04 billion, a price-to-earnings ratio of 21.52, 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 results 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%. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

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.