First Trust Advisors LP Has $24.72 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

First Trust Advisors LP increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,564 shares of the real estate investment trust's stock after buying an additional 27,650 shares during the quarter. First Trust Advisors LP's holdings in Simon Property Group were worth $24,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank increased its stake in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its stake in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after buying an additional 421 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after buying an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

NYSE SPG opened at $156.69 on Friday. The stock has a market cap of $51.12 billion, a PE ratio of 21.58, a P/E/G ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a 50-day moving average of $163.73 and a 200-day moving average of $172.05. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a research note on Wednesday, April 9th. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.