Lasalle Investment Management Securities LLC Reduces Stake in Simon Property Group, Inc. (NYSE:SPG)

Lasalle Investment Management Securities LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 542,381 shares of the real estate investment trust’s stock after selling 9,401 shares during the quarter. Simon Property Group accounts for approximately 3.9% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 8th largest holding. Lasalle Investment Management Securities LLC owned about 0.17% of Simon Property Group worth $93,403,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SPG. Norges Bank bought a new stake in Simon Property Group in the 4th quarter worth about $2,059,505,000. Geode Capital Management LLC grew its holdings in shares of Simon Property Group by 2.6% in the fourth 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 acquiring an additional 230,982 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock valued at $811,202,000 after acquiring an additional 246,630 shares in the last quarter. Invesco Ltd. increased its position in shares of Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after acquiring an additional 542,511 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after acquiring an additional 64,418 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.5 %

Shares of SPG stock opened at $150.31 on Friday. 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. The company’s fifty day simple moving average is $166.96 and its two-hundred day simple moving average is $172.60. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.59%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price 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 report on Saturday, March 29th. Stifel Nicolaus raised shares of 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. 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 research report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.39.

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.