Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,472 shares of the real estate investment trust’s stock after selling 136 shares during the quarter. Krane Funds Advisors LLC’s holdings in Simon Property Group were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% in 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 last quarter. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Price Performance

Simon Property Group stock opened at $146.15 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. 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. The company’s 50 day simple moving average is $174.03 and its 200-day simple moving average is $174.40. Simon Property Group, Inc. has a 1 year low of $137.35 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current 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 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 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.