Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,244,500 shares of the real estate investment trust’s stock after selling 166,934 shares during the quarter. Ameriprise Financial Inc. owned about 0.38% of Simon Property Group worth $214,328,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter worth about $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group during the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.2 %

Shares of NYSE:SPG opened at $160.48 on Wednesday. The firm has a 50 day simple moving average of $160.20 and a 200 day simple moving average of $171.39. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market cap of $52.36 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SPG. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Stifel Nicolaus upgraded 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 report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and five have assigned 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 $178.39.

About Simon Property Group

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.