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

Krane Funds Advisors LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,472 shares of the real estate investment trust’s stock after selling 136 shares during the period. Krane Funds Advisors LLC’s holdings in Simon Property Group were worth $253,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SPG. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC raised its holdings in shares of 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 purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several research analyst reports. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. 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 target price for the company. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Stock Performance

NYSE:SPG opened at $146.15 on Monday. The firm’s fifty day simple moving average is $174.03 and its 200-day simple moving average is $174.40. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $47.68 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a fifty-two week low of $137.35 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, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued 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 (DPR) is 115.70%.

About Simon Property Group

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.