Aster Capital Management DIFC Ltd Sells 14,931 Shares of Simon Property Group, Inc. (NYSE:SPG)

Aster Capital Management DIFC Ltd reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 90.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,644 shares of the real estate investment trust’s stock after selling 14,931 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Simon Property Group were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Morse Asset Management Inc bought a new position in Simon Property Group during the 3rd quarter worth $155,000. Insigneo Advisory Services LLC increased its stake in shares of Simon Property Group by 50.8% in the third quarter. Insigneo Advisory Services LLC now owns 2,593 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 874 shares during the period. EP Wealth Advisors LLC raised its position in shares of Simon Property Group by 28.7% during the third quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 413 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Simon Property Group by 5.7% in the third quarter. iA Global Asset Management Inc. now owns 10,860 shares of the real estate investment trust’s stock worth $1,836,000 after acquiring an additional 586 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in Simon Property Group by 13.3% in the third quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust’s stock valued at $1,714,000 after acquiring an additional 1,192 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of 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, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $143.18 on Tuesday. The stock’s 50 day simple moving average is $173.36 and its 200 day simple moving average is $174.23. The company has a market cap of $46.72 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a fifty-two week low of $138.11 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its earnings results 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 return on equity of 74.02% and a net margin of 41.49%. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.87%. 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.