Simon Property Group, Inc. (NYSE:SPG) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 60.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 75,039 shares of the real estate investment trust’s stock after selling 114,796 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Simon Property Group were worth $12,922,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPG. Pitcairn Co. raised its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 55 shares during the period. Colonial Trust Co SC lifted its stake in Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 57 shares in the last quarter. Childress Capital Advisors LLC boosted its position in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 58 shares during the period. Global X Japan Co. Ltd. grew its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 6.2%

Shares of NYSE:SPG opened at $160.84 on Wednesday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company’s 50 day moving average is $158.31 and its two-hundred day moving average is $171.07. 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 company has a market cap of $52.48 billion, a PE ratio of 22.15, a P/E/G ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.56 earnings per share. 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 will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.22%. Simon Property Group’s payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SPG shares. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.67.

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.