AlphaCrest Capital Management LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 59.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,802 shares of the real estate investment trust’s stock after selling 9,866 shares during the period. AlphaCrest Capital Management LLC’s holdings in Simon Property Group were worth $610,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SPG. Cowa LLC acquired a new stake in Simon Property Group in the first quarter valued at $107,000. PGGM Investments acquired a new stake in Simon Property Group in the third quarter valued at $98,410,000. Price T Rowe Associates Inc. MD grew its holdings in Simon Property Group by 59.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,592,587 shares of the real estate investment trust’s stock valued at $246,088,000 after purchasing an additional 968,485 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Simon Property Group by 98.7% in the second quarter. Renaissance Technologies LLC now owns 1,502,507 shares of the real estate investment trust’s stock valued at $142,618,000 after purchasing an additional 746,502 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Simon Property Group by 527.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 804,952 shares of the real estate investment trust’s stock valued at $105,899,000 after acquiring an additional 676,627 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.
Simon Property Group Stock Performance
Simon Property Group stock opened at $122.18 on Thursday. The stock’s 50-day moving average is $123.39 and its 200-day moving average is $113.00. The company has a market cap of $39.94 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.52. The company has a debt-to-equity ratio of 6.99, a current ratio of 0.97 and a quick ratio of 0.97. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $138.65.
Simon Property Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 5.89%. Simon Property Group’s dividend payout ratio (DPR) is currently 110.43%.
Analyst Ratings Changes
Several analysts have recently issued reports on SPG shares. Truist Financial upped their price objective on Simon Property Group from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st. Citigroup upped their price objective on Simon Property Group from $100.00 to $120.00 in a research report on Wednesday, December 14th. Piper Sandler upped their price objective on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Mizuho restated a “neutral” rating and issued a $130.00 price objective on shares of Simon Property Group in a research report on Tuesday, February 7th. Finally, Morgan Stanley upped their price objective on Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.75.
About Simon Property Group
Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.
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