BI Asset Management Fondsmaeglerselskab A S Sells 27,712 Shares of Simon Property Group, Inc. (NYSE:SPG)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 56.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,810 shares of the real estate investment trust's stock after selling 27,712 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Simon Property Group were worth $3,756,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank boosted its stake in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Simon Property Group in the 4th quarter worth approximately $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

SPG stock traded up $0.49 during trading on Friday, reaching $156.69. 1,421,754 shares of the stock were exchanged, compared to its average volume of 1,513,325. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. 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 company has a market capitalization of $51.12 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The stock has a 50 day simple moving average of $163.73 and a 200-day simple moving average of $172.05.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. 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 research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank lowered their price target 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. Finally, Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $178.39.

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.