Allianz SE Acquires New Shares in Simon Property Group, Inc. (NYSE:SPG)

Allianz SE acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,196 shares of the real estate investment trust's stock, valued at approximately $9,092,000.

A number of other large investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group in the 3rd quarter worth about $834,000. First Hawaiian Bank lifted its holdings in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after buying an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in Simon Property Group during the fourth quarter worth $416,000. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPG has been the topic of several recent analyst reports. Mizuho raised their price objective on 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 assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $180.33.

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Simon Property Group Stock Performance

SPG traded up $3.26 during midday trading on Wednesday, reaching $169.73. The company had a trading volume of 511,495 shares, compared to its average volume of 1,441,343. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The business has a 50-day moving average price of $175.08 and a two-hundred day moving average price of $174.56. The stock has a market cap of $55.38 billion, a PE ratio of 23.38, a P/E/G ratio of 10.10 and a beta of 1.78. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is currently 115.70%.

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.