Korea Investment CORP Acquires 79,677 Shares of Simon Property Group, Inc. (NYSE:SPG)

Korea Investment CORP raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,265 shares of the real estate investment trust's stock after acquiring an additional 79,677 shares during the period. Korea Investment CORP owned about 0.07% of Simon Property Group worth $36,726,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% in 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 period. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new position in Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at $41,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday. Scotiabank set a $186.00 price target on Simon Property Group in a research report on Friday, February 28th. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $180.33.

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Simon Property Group Trading Up 1.3 %

Shares of Simon Property Group stock traded up $2.11 during trading on Wednesday, reaching $168.58. 320,724 shares of the stock were exchanged, compared to its average volume of 1,519,802. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.13. The firm has a market cap of $55.00 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock's fifty day moving average is $175.08 and its 200 day moving average is $174.56.

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 for the quarter, topping 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%. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given 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 4.98%. Simon Property Group's payout ratio is 115.70%.

About Simon Property Group

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.