Federated Hermes Inc. Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Federated Hermes Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,859 shares of the real estate investment trust’s stock after acquiring an additional 7,865 shares during the period. Federated Hermes Inc.’s holdings in Simon Property Group were worth $7,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Morse Asset Management Inc purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at about $155,000. EP Wealth Advisors LLC raised its stake in shares of Simon Property Group by 28.7% during the third quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 413 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Simon Property Group by 13.3% during the third quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,192 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Simon Property Group by 5.5% during the third quarter. Coldstream Capital Management Inc. now owns 6,114 shares of the real estate investment trust’s stock worth $1,040,000 after purchasing an additional 321 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Simon Property Group by 8.2% in the third quarter. Sunbelt Securities Inc. now owns 3,978 shares of the real estate investment trust’s stock valued at $672,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Stifel Nicolaus upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a report on Wednesday. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.39.

Simon Property Group Stock Performance

SPG stock opened at $147.64 on Friday. The firm has a market cap of $48.17 billion, a P/E ratio of 20.34, a P/E/G ratio of 10.10 and a beta of 1.45. The stock’s 50 day simple moving average is $170.58 and its 200 day simple moving average is $173.39. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group 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.