Canada Pension Plan Investment Board Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Canada Pension Plan Investment Board grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,086,936 shares of the real estate investment trust's stock after buying an additional 11,739 shares during the quarter. Canada Pension Plan Investment Board owned 0.33% of Simon Property Group worth $187,181,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPG. Morse Asset Management Inc purchased a new position in shares of Simon Property Group during the 3rd quarter worth about $155,000. SkyView Investment Advisors LLC boosted its holdings in Simon Property Group by 4.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust's stock valued at $643,000 after acquiring an additional 158 shares during the period. World Investment Advisors LLC grew its position in Simon Property Group by 17.3% in the 3rd quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust's stock valued at $597,000 after acquiring an additional 521 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the third quarter worth $834,000. Finally, Blankinship & Foster LLC purchased a new stake in shares of Simon Property Group during the third quarter valued at $608,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Up 2.8 %

SPG stock traded up $4.11 on Tuesday, hitting $151.31. 572,907 shares of the company's stock were exchanged, compared to its average volume of 1,665,561. The firm has a 50 day moving average price of $166.24 and a two-hundred day moving average price of $172.48. 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, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market cap of $49.37 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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 analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Wall Street Analyst Weigh In

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

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.