Prana Capital Management LP Sells 24,755 Shares of Simon Property Group, Inc. (NYSE:SPG)

Prana Capital Management LP cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,614 shares of the real estate investment trust's stock after selling 24,755 shares during the period. Prana Capital Management LP's holdings in Simon Property Group were worth $15,432,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC boosted its position 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 last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new position 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

SPG has been the subject of a number of research reports. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus boosted 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 report on Tuesday, May 13th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $179.67.

Simon Property Group Price Performance

SPG stock traded down $1.77 during trading on Tuesday, reaching $162.72. The company's stock had a trading volume of 486,538 shares, compared to its average volume of 1,673,301. 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 company's fifty day moving average is $158.06 and its 200-day moving average is $170.87. The company has a market capitalization of $53.12 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter last year, the business posted $3.56 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. Simon Property Group's dividend payout ratio is currently 133.76%.

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.