Cohen & Steers Inc. Sells 1,600,497 Shares of Simon Property Group, Inc. (NYSE:SPG)

Cohen & Steers Inc. decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,487,347 shares of the real estate investment trust’s stock after selling 1,600,497 shares during the period. Simon Property Group accounts for 5.4% of Cohen & Steers Inc.’s portfolio, making the stock its 5th largest position. Cohen & Steers Inc. owned 0.05% of Simon Property Group worth $2,839,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% in 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 period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $34,000. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and an average target price of $181.39.

Simon Property Group Stock Up 0.2 %

Shares of SPG stock opened at $147.98 on Monday. The firm has a fifty day moving average of $170.08 and a 200-day moving average of $173.30. 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 12-month low of $136.34 and a 12-month high of $190.14. The company has a market capitalization of $48.28 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

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.