Ameriprise Financial Inc. Has $214.33 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Ameriprise Financial Inc. reduced its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,244,500 shares of the real estate investment trust's stock after selling 166,934 shares during the period. Ameriprise Financial Inc. owned about 0.38% of Simon Property Group worth $214,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Pitcairn Co. lifted its stake in shares of Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 55 shares during the last quarter. Childress Capital Advisors LLC lifted its position in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after acquiring an additional 59 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after purchasing an additional 60 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock worth $1,074,000 after purchasing an additional 62 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPG shares. Scotiabank lowered their price objective on shares of 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. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a research report 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 company has an average rating of "Moderate Buy" and a consensus target price of $178.39.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $0.25 during trading on Friday, reaching $163.26. The company's stock had a trading volume of 1,612,138 shares, compared to its average volume of 1,509,363. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The stock has a 50-day moving average price of $158.81 and a two-hundred day moving average price of $171.17. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $53.27 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

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.