Geode Capital Management LLC Purchases 230,982 Shares of Simon Property Group, Inc. (NYSE:SPG)

Geode Capital Management LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,160,242 shares of the real estate investment trust's stock after acquiring an additional 230,982 shares during the quarter. Geode Capital Management LLC owned 2.81% of Simon Property Group worth $1,577,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SPG. HighPoint Advisor Group LLC lifted its holdings in shares of Simon Property Group by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after buying an additional 60 shares during the period. Summit Financial LLC lifted its holdings in Simon Property Group by 27.0% in the fourth quarter. Summit Financial LLC now owns 3,696 shares of the real estate investment trust's stock valued at $637,000 after acquiring an additional 785 shares during the period. Wellington Management Group LLP boosted its position in Simon Property Group by 4.2% in the fourth quarter. Wellington Management Group LLP now owns 921,576 shares of the real estate investment trust's stock worth $158,705,000 after purchasing an additional 37,384 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Simon Property Group by 6.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 82,594 shares of the real estate investment trust's stock valued at $14,224,000 after purchasing an additional 4,671 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Simon Property Group by 314.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,410 shares of the real estate investment trust's stock valued at $3,041,000 after purchasing an additional 13,206 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

SPG has been the topic of a number of research reports. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock 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 upped their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average target price of $180.33.

Simon Property Group Price Performance

Shares of NYSE SPG traded down $7.04 during mid-day trading on Friday, reaching $146.15. The company's stock had a trading volume of 3,679,910 shares, compared to its average volume of 1,466,381. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a fifty day moving average of $174.03 and a two-hundred day moving average of $174.33. The firm has a market capitalization of $47.68 billion, a PE ratio of 20.13, a P/E/G ratio of 10.10 and a beta of 1.45.

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, topping 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, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.75%. Simon Property Group's payout ratio is 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.