LPL Financial LLC Grows Position in Simon Property Group, Inc. (NYSE:SPG)

LPL Financial LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,414 shares of the real estate investment trust's stock after buying an additional 7,087 shares during the period. LPL Financial LLC owned 0.11% of Simon Property Group worth $61,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $834,000. First Hawaiian Bank boosted its stake in shares of 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 purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after buying an additional 421 shares during the period. Asset Management One Co. Ltd. raised its stake in Simon Property Group by 0.7% during the fourth 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 during the last quarter. Finally, Merit Financial Group LLC acquired a new position in Simon Property Group in the fourth quarter valued at $416,000. 93.01% of the stock is currently owned by institutional investors.

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Simon Property Group Stock Up 1.2 %

Shares of SPG traded up $1.99 during trading hours on Monday, reaching $166.27. The stock had a trading volume of 2,409,242 shares, compared to its average volume of 1,442,678. The firm has a 50-day simple moving average of $175.26 and a 200 day simple moving average of $174.54. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $54.25 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data 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 net margin of 41.49% and a return on equity of 74.02%. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.05%. Simon Property Group's dividend payout ratio (DPR) is currently 115.70%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Finally, Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $180.33.

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.