New Age Alpha Advisors LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 141,922 shares of the real estate investment trust's stock, valued at approximately $24,440,000. Simon Property Group comprises approximately 1.0% of New Age Alpha Advisors LLC's holdings, making the stock its 10th largest holding.
Several other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group in the third quarter valued at about $834,000. First Hawaiian Bank grew its position 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 buying an additional 1,372 shares during the period. Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. increased its stake 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 purchasing an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Simon Property Group during the fourth quarter worth $416,000. Institutional investors own 93.01% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on SPG. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for 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. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $180.33.
Read Our Latest Research Report on SPG
Simon Property Group Stock Up 0.0 %
Shares of NYSE SPG traded up $0.07 during midday trading on Tuesday, reaching $166.15. The company's stock had a trading volume of 419,157 shares, compared to its average volume of 1,438,859. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock has a 50 day simple moving average of $175.26 and a 200-day simple moving average of $174.54. The stock has a market capitalization of $54.21 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.
Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.
Simon Property Group Dividend Announcement
The business 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 was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.
About Simon Property Group
(
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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