Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,595 shares of the real estate investment trust’s stock after selling 278 shares during the period. Gulf International Bank UK Ltd’s holdings in Simon Property Group were worth $4,407,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SPG. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new stake in Simon Property Group during the third quarter valued at $30,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group in the 4th quarter worth about $41,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $182.66 on Friday. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $59.60 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The business has a 50 day simple moving average of $177.02 and a 200 day simple moving average of $173.39.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.60%. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

SPG has been the subject of a number of recent research reports. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $178.44.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

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.