Simon Property Group, Inc. (NYSE:SPG) Stock Position Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,647 shares of the real estate investment trust’s stock after purchasing an additional 3,773 shares during the quarter. Advisors Asset Management Inc.’s holdings in Simon Property Group were worth $3,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after purchasing an additional 64,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares during the period. Amundi raised its position in shares of Simon Property Group by 10.5% during the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock worth $301,088,000 after purchasing an additional 163,764 shares during the period. Principal Financial Group Inc. raised its position in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after purchasing an additional 98,366 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in shares of Simon Property Group by 6.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after purchasing an additional 73,742 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded 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. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Stock Down 0.3 %

Shares of SPG stock opened at $164.36 on Friday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The stock has a market cap of $53.63 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business’s fifty day moving average is $176.29 and its 200-day moving average is $174.33. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by insiders.

Simon Property Group Company 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.