USS Investment Management Ltd Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

USS Investment Management Ltd trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 18.0% during the fourth quarter, HoldingsChannel reports. The firm owned 61,215 shares of the real estate investment trust’s stock after selling 13,399 shares during the period. USS Investment Management Ltd’s holdings in Simon Property Group were worth $10,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SPG. Norges Bank purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC raised its position in shares of Simon Property Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after buying an additional 230,982 shares during the period. Northern Trust Corp raised its position in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after buying an additional 1,718,398 shares during the period. JPMorgan Chase & Co. raised its position in shares of Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock valued at $811,202,000 after buying an additional 246,630 shares during the period. Finally, Invesco Ltd. raised its position in shares of Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after buying an additional 542,511 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on SPG shares. Scotiabank reduced 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 research report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Stifel Nicolaus boosted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.67.

Simon Property Group Stock Down 1.0%

Shares of NYSE SPG opened at $162.89 on Wednesday. The firm has a market cap of $53.17 billion, a price-to-earnings 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. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The business’s 50 day moving average is $158.13 and its two-hundred day moving average is $170.81.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The business 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 quarterly 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. Research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.16%. Simon Property Group’s dividend payout ratio (DPR) is 133.76%.

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.