Gabelli Funds LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Gabelli Funds LLC reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 60.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the real estate investment trust’s stock after selling 9,250 shares during the quarter. Gabelli Funds LLC’s holdings in Simon Property Group were worth $856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cape Investment Advisory Inc. grew its position in shares of Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group in the fourth quarter valued at approximately $34,000. Bruce G. Allen Investments LLC bought a new position in Simon Property Group during the fourth quarter valued at $41,000. Highlander Capital Management LLC increased its position in Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 200 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Simon Property Group in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.2 %

SPG opened at $152.04 on Tuesday. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $157.82. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The business’s 50-day moving average price is $146.71 and its 200-day moving average price is $144.81. The company has a market cap of $49.56 billion, a P/E ratio of 19.37, a P/E/G ratio of 9.03 and a beta of 1.71.

Simon Property Group (NYSE:SPGGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. Simon Property Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.74 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, June 7th. This represents a $8.00 annualized dividend and a yield of 5.26%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is presently 101.91%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Evercore ISI increased their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Truist Financial lifted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Scotiabank boosted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Morgan Stanley raised their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Get Our Latest Analysis on SPG

Simon Property Group Profile

(Free Report)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Further Reading

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPGFree Report).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.