Cullen Capital Management LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Cullen Capital Management LLC reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,936 shares of the real estate investment trust’s stock after selling 1,764 shares during the period. Cullen Capital Management LLC’s holdings in Simon Property Group were worth $1,539,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $834,000. First Hawaiian Bank lifted its stake in Simon Property Group by 35.0% in the fourth 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 during the period. Versant Capital Management Inc boosted its holdings in Simon Property Group by 72.8% in the fourth 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 in the last quarter. Asset Management One Co. Ltd. increased its position in Simon Property Group by 0.7% during 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 purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC bought a new position in Simon Property Group in the 4th quarter worth $416,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SPG shares. Jefferies Financial Group raised shares of 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. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, 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 objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Trading Down 4.6 %

Simon Property Group stock opened at $146.15 on Friday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 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 business’s fifty day simple moving average is $174.03 and its two-hundred day simple moving average is $174.33. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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%. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.75%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.