Short Interest in Simon Property Group, Inc. (NYSE:SPG) Declines By 24.7%

Simon Property Group, Inc. (NYSE:SPG) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 4,200,000 shares, a drop of 24.7% from the February 13th total of 5,580,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Stock Up 1.0 %

SPG stock opened at $161.13 on Monday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market capitalization of $52.57 billion, a PE ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group has a twelve month low of $139.25 and a twelve month high of $190.14. The stock has a 50-day simple moving average of $177.03 and a two-hundred day simple moving average of $174.48.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC grew its holdings in shares of 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 purchased a new position in shares of Simon Property Group during the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.