OVERSEA CHINESE BANKING Corp Ltd Sells 8,295 Shares of Simon Property Group, Inc. (NYSE:SPG)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 62,443 shares of the real estate investment trust’s stock after selling 8,295 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Simon Property Group were worth $10,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Hamlin Capital Management LLC purchased a new stake in Simon Property Group during the fourth quarter valued at about $109,403,000. KBC Group NV boosted its position in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after purchasing an additional 539,893 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Simon Property Group by 295.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after purchasing an additional 489,519 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 1.3 %

SPG stock opened at $164.70 on Wednesday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The stock has a market cap of $53.74 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. 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’s 50 day moving average is $176.70 and its 200 day moving average is $174.47.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPG. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. 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.com, the company presently has an average rating of “Hold” and an average price target of $180.33.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.60% of the company’s stock.

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.