TD Private Client Wealth LLC Grows Stock Position in Simon Property Group, Inc. (NYSE:SPG)

TD Private Client Wealth LLC raised its position in Simon Property Group, Inc. (NYSE:SPG) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595 shares of the real estate investment trust’s stock after acquiring an additional 160 shares during the quarter. TD Private Client Wealth LLC’s holdings in Simon Property Group were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in Simon Property Group in the 4th quarter valued at about $109,403,000. KBC Group NV grew its stake in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after acquiring an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Simon Property Group by 22,608.6% during the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after acquiring an additional 539,893 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Simon Property Group by 295.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after acquiring an additional 489,519 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $166.36 on Tuesday. The company has a market cap of $54.28 billion, a P/E ratio of 22.91, a PEG ratio of 10.10 and a beta of 1.78. The business has a 50 day moving average of $175.98 and a two-hundred day moving average of $174.45. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.33.

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.