GSI Capital Advisors LLC Sells 5,148 Shares of Simon Property Group, Inc. (NYSE:SPG)

GSI Capital Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.4% in the fourth quarter, HoldingsChannel reports. The fund owned 44,448 shares of the real estate investment trust’s stock after selling 5,148 shares during the quarter. Simon Property Group accounts for 4.0% of GSI Capital Advisors LLC’s portfolio, making the stock its 6th biggest holding. GSI Capital Advisors LLC’s holdings in Simon Property Group were worth $7,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $2,059,505,000. Hamlin Capital Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at approximately $109,403,000. KBC Group NV lifted its position in Simon Property Group by 170.3% in the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after buying an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after buying an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Simon Property Group by 17,222.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust’s stock valued at $82,063,000 after acquiring an additional 473,779 shares in the last quarter. 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. Piper Sandler upgraded 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 report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Trading Up 0.3 %

Shares of SPG stock opened at $166.54 on Wednesday. The business’s 50 day moving average is $175.08 and its two-hundred day moving average is $174.56. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The company has a market cap of $54.34 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current 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 dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.04%. Simon Property Group’s dividend payout ratio 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.