Guggenheim Capital LLC Sells 104,627 Shares of Simon Property Group, Inc. (NYSE:SPG)

Guggenheim Capital LLC lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 88.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,372 shares of the real estate investment trust’s stock after selling 104,627 shares during the period. Guggenheim Capital LLC’s holdings in Simon Property Group were worth $2,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $28,000. WR Wealth Planners LLC raised its stake in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter worth $31,000. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a research report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.39.

Simon Property Group Trading Up 1.5 %

Shares of NYSE:SPG opened at $150.31 on Friday. The stock’s 50-day simple moving average is $166.96 and its two-hundred day simple moving average is $172.60. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. 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 (NYSE:SPG) last posted its quarterly earnings data 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 net margin of 41.49% and a return on equity of 74.02%. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business 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 was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.59%. Simon Property Group’s dividend payout ratio is currently 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.