JPMorgan Chase & Co. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,710,538 shares of the real estate investment trust's stock after buying an additional 246,630 shares during the quarter. JPMorgan Chase & Co. owned 1.44% of Simon Property Group worth $811,202,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter worth about $834,000. First Hawaiian Bank boosted its stake in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Simon Property Group by 72.8% in the fourth 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. boosted its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.
Wall Street Analyst Weigh In
SPG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised 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. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Finally, StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $180.33.
Read Our Latest Stock Report on SPG
Simon Property Group Stock Up 1.6 %
Shares of SPG stock traded up $2.67 during trading on Wednesday, hitting $169.14. 350,971 shares of the company were exchanged, compared to its average volume of 1,440,632. The firm has a market capitalization of $55.19 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 10.10 and a beta of 1.78. 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 business's 50-day simple moving average is $175.08 and its 200 day simple moving average is $174.56. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.
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 EPS 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, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.
Simon Property Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.97%. Simon Property Group's dividend payout ratio is currently 115.70%.
Simon Property Group Profile
(
Free Report)
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.
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