FIL Ltd Grows Position in Simon Property Group, Inc. (NYSE:SPG)

FIL Ltd grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 34.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 304,650 shares of the real estate investment trust’s stock after acquiring an additional 78,579 shares during the quarter. FIL Ltd’s holdings in Simon Property Group were worth $52,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Pitcairn Co. increased its position in Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 55 shares in the last quarter. Childress Capital Advisors LLC increased its position in Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 58 shares in the last quarter. Global X Japan Co. Ltd. grew its position in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after purchasing an additional 60 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective for the company in a research report on Wednesday. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Trading Up 9.3 %

Shares of SPG opened at $153.36 on Thursday. The stock’s 50-day moving average is $171.10 and its two-hundred day moving average is $173.55. The stock has a market cap of $50.04 billion, a PE ratio of 21.12, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 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.