Tocqueville Asset Management L.P. Reduces Holdings in Simon Property Group, Inc. (NYSE:SPG)

Tocqueville Asset Management L.P. lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,738 shares of the real estate investment trust’s stock after selling 287 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Simon Property Group were worth $5,466,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in Simon Property Group in the 4th quarter valued at about $109,403,000. KBC Group NV boosted its stake in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after purchasing an additional 539,893 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after buying an additional 489,519 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $180.33.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $164.70 on Wednesday. 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, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a market capitalization of $53.74 billion, a P/E ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.78. The business’s 50-day simple moving average is $176.70 and its 200-day simple moving average is $174.47.

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, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.10%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 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.