Gotham Asset Management LLC Sells 16,945 Shares of Simon Property Group, Inc. (NYSE:SPG)

Gotham Asset Management LLC lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,367 shares of the real estate investment trust’s stock after selling 16,945 shares during the period. Gotham Asset Management LLC’s holdings in Simon Property Group were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Simon Property Group in the 4th quarter worth $2,059,505,000. Geode Capital Management LLC increased its holdings in shares of Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock worth $1,577,600,000 after buying an additional 230,982 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after buying an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after buying an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Simon Property Group by 14.8% in the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock worth $726,136,000 after buying an additional 542,511 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

Simon Property Group Trading Up 1.1%

Shares of SPG opened at $162.90 on Friday. The stock has a market capitalization of $53.15 billion, a P/E ratio of 22.44, a PEG ratio of 10.10 and a beta of 1.43. 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 firm has a fifty day simple moving average of $158.06 and a two-hundred day simple moving average of $170.94. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.56 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.16%. Simon Property Group’s payout ratio is currently 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.