RWA Wealth Partners LLC Invests $6.80 Million in Simon Property Group, Inc. (NYSE:SPG)

RWA Wealth Partners LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,480 shares of the real estate investment trust's stock, valued at approximately $6,799,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter worth approximately $2,059,505,000. JPMorgan Chase & Co. grew its holdings in Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after acquiring an additional 246,630 shares during the period. Charles Schwab Investment Management Inc. raised its position in Simon Property Group by 1.8% in the fourth 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 acquiring an additional 64,418 shares in the last quarter. Boston Partners boosted its position in shares of Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock worth $431,304,000 after purchasing an additional 162,764 shares in the last quarter. Finally, Amundi grew its stake 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. 93.01% of the stock is owned by hedge funds and other institutional investors.

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Simon Property Group Price Performance

Shares of SPG traded up $4.11 during trading hours on Wednesday, reaching $170.58. 1,416,786 shares of the company traded hands, compared to its average volume of 1,444,775. The stock has a market capitalization of $55.66 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two 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. The stock has a fifty day simple moving average of $175.08 and a 200 day simple moving average of $174.56.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.92%. Simon Property Group's payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note 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 research note on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus target price of $180.33.

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.