MML Investors Services LLC Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

MML Investors Services LLC trimmed its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,117 shares of the real estate investment trust's stock after selling 7,622 shares during the period. MML Investors Services LLC's holdings in Simon Property Group were worth $9,492,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the 4th quarter valued at about $28,000. WR Wealth Planners LLC increased 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 buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC purchased a new position in Simon Property Group during the fourth quarter valued at approximately $34,000. Institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent analyst reports. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank reduced their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Finally, 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 research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Trading Down 1.3 %

NYSE:SPG traded down $2.03 during midday trading on Tuesday, hitting $156.48. 299,895 shares of the company traded hands, compared to its average volume of 1,510,745. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The firm has a market capitalization of $51.06 billion, a P/E ratio of 21.55, a P/E/G ratio of 10.10 and a beta of 1.45. 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 firm's fifty day moving average is $163.19 and its 200-day moving average is $172.01.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, sell-side analysts predict 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.37%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Simon Property Group 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.