Nuveen Asset Management LLC Cuts Position in Simon Property Group, Inc. (NYSE:SPG)

Nuveen Asset Management LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,555,940 shares of the real estate investment trust's stock after selling 705,680 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.09% of Simon Property Group worth $612,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC lifted its stake in shares of Simon Property Group by 328.2% in 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 during the period. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.3%

SPG traded up $2.12 during midday trading on Friday, reaching $165.15. 1,352,577 shares of the company were exchanged, compared to its average volume of 1,528,851. 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 company's fifty day moving average price is $158.09 and its 200 day moving average price is $170.89. The company has a market cap of $53.89 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.56 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. Scotiabank dropped their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus boosted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Simon Property Group has an average rating of "Moderate Buy" and a consensus price target of $179.67.

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.