CANADA LIFE ASSURANCE Co Boosts Position in Simon Property Group, Inc. (NYSE:SPG)

CANADA LIFE ASSURANCE Co increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 794,133 shares of the real estate investment trust's stock after purchasing an additional 106,684 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.24% of Simon Property Group worth $136,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter valued at approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $34,000. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a research note on Wednesday, April 9th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.39.

Simon Property Group Price Performance

NYSE:SPG traded up $3.31 during midday trading on Tuesday, hitting $150.51. The company had a trading volume of 639,275 shares, compared to its average volume of 1,502,909. The company has a market capitalization of $49.11 billion, a PE ratio of 20.76, a P/E/G ratio of 10.10 and a beta of 1.45. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The stock's fifty day moving average price is $166.24 and its 200-day moving average price is $172.48.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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%. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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 $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.58%. Simon Property Group's dividend payout ratio 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.