Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,859 shares of the real estate investment trust's stock after buying an additional 7,865 shares during the quarter. Federated Hermes Inc.'s holdings in Simon Property Group were worth $7,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Simon Property Group during the 4th quarter valued at about $2,059,505,000. Hamlin Capital Management LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $109,403,000. KBC Group NV increased its position in shares of Simon Property Group by 170.3% in the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Simon Property Group by 22,608.6% during the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust's stock worth $93,386,000 after buying an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of Simon Property Group by 17,222.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust's stock valued at $82,063,000 after buying an additional 473,779 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

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Simon Property Group Trading Up 1.0 %

NYSE:SPG traded up $1.44 during trading hours on Wednesday, reaching $150.81. 237,161 shares of the stock were exchanged, compared to its average volume of 1,669,708. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The business has a 50-day moving average of $168.88 and a two-hundred day moving average of $173.01. The company has a market capitalization of $49.21 billion, a price-to-earnings ratio of 20.82, 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 (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Monday, March 10th. Simon Property Group's payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SPG shares. StockNews.com cut shares of 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 note on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price on the stock in a research report on Wednesday, April 9th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of "Moderate Buy" and a consensus price target of $181.39.

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.