Jump Financial LLC Reduces Position in Simon Property Group, Inc. (NYSE:SPG)

Jump Financial LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 74.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,432 shares of the real estate investment trust's stock after selling 9,812 shares during the quarter. Jump Financial LLC's holdings in Simon Property Group were worth $591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Simon Property Group during the fourth quarter worth $2,059,505,000. Hamlin Capital Management LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $109,403,000. KBC Group NV grew its holdings in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock worth $151,597,000 after acquiring an additional 554,605 shares during the period. Invesco Ltd. grew its holdings in Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after acquiring an additional 542,511 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust's stock valued at $93,386,000 after acquiring an additional 539,893 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. 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 report on Wednesday, April 9th. Finally, Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $178.39.

Simon Property Group Trading Down 1.4 %

Shares of SPG stock traded down $2.27 on Tuesday, reaching $156.24. 238,934 shares of the stock were exchanged, compared to its average volume of 1,510,573. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $50.98 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The firm has a 50 day moving average of $163.19 and a two-hundred day moving average of $172.01. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14.

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 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.38%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

About Simon Property Group

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.