APG Asset Management US Inc. Lowers Stake in Simon Property Group, Inc. (NYSE:SPG)

APG Asset Management US Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 35.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 554,153 shares of the real estate investment trust's stock after selling 307,851 shares during the period. Simon Property Group accounts for approximately 0.7% of APG Asset Management US Inc.'s investment portfolio, making the stock its 22nd largest holding. APG Asset Management US Inc. owned about 0.17% of Simon Property Group worth $95,431,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SPG. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Geode Capital Management LLC boosted its position in Simon Property Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after buying an additional 230,982 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after buying an additional 246,630 shares during the period. Invesco Ltd. raised its position in Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after buying an additional 542,511 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after acquiring an additional 64,418 shares during the period. 93.01% of the stock is currently owned by institutional investors.

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Simon Property Group Trading Up 0.7 %

Simon Property Group stock traded up $0.99 during midday trading on Monday, reaching $149.19. 326,471 shares of the stock traded hands, compared to its average volume of 1,496,516. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market cap of $48.68 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a 50-day simple moving average of $170.08 and a two-hundred day simple moving average of $173.30. 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 - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research note on Wednesday, April 9th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.39.

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.