Franklin Resources Inc. Sells 62,550 Shares of Simon Property Group, Inc. (NYSE:SPG)

Franklin Resources Inc. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,371 shares of the real estate investment trust’s stock after selling 62,550 shares during the quarter. Franklin Resources Inc. owned about 0.23% of Simon Property Group worth $130,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC lifted its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter worth $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group during the fourth quarter worth $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group in the fourth quarter valued at $34,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $170.58 on Thursday. The company has a fifty day moving average price of $175.03 and a 200-day moving average price of $174.53. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SPG shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.33.

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.