DnB Asset Management AS Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

DnB Asset Management AS boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,906 shares of the real estate investment trust's stock after buying an additional 2,412 shares during the period. DnB Asset Management AS's holdings in Simon Property Group were worth $10,489,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPG. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $180.33.

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Simon Property Group Trading Down 7.9 %

SPG stock traded down $13.50 during trading on Thursday, hitting $156.91. The company had a trading volume of 1,258,016 shares, compared to its average volume of 1,531,316. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.13. The company has a 50 day simple moving average of $175.03 and a 200-day simple moving average of $174.53. The firm has a market capitalization of $51.20 billion, a P/E ratio of 21.61, a PEG 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 (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate 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, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.35%. Simon Property Group's dividend payout ratio is currently 115.70%.

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.