Lasalle Investment Management Securities LLC Sells 9,401 Shares of Simon Property Group, Inc. (NYSE:SPG)

Lasalle Investment Management Securities LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,381 shares of the real estate investment trust's stock after selling 9,401 shares during the period. Simon Property Group makes up 3.9% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 8th biggest position. Lasalle Investment Management Securities LLC owned about 0.17% of Simon Property Group worth $93,403,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC grew its holdings in 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 purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

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

Simon Property Group Stock Performance

Simon Property Group stock traded up $1.32 during mid-day trading on Friday, reaching $157.52. The company's stock had a trading volume of 678,461 shares, compared to its average volume of 1,511,369. 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 $190.14. The business 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 $51.39 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. 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 business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 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.