Simon Property Group, Inc. (NYSE:SPG) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 88.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,363 shares of the real estate investment trust's stock after buying an additional 11,898 shares during the period. NewEdge Advisors LLC's holdings in Simon Property Group were worth $4,368,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group in the fourth quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new stake in Simon Property Group during the fourth quarter worth $34,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.8 %

Shares of SPG traded up $2.76 during midday trading on Wednesday, reaching $153.47. The stock had a trading volume of 1,862,344 shares, compared to its average volume of 1,509,726. The company has a market cap of $50.07 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 10.10 and a beta of 1.45. The company's fifty day simple moving average is $165.52 and its two-hundred day simple moving average is $172.32. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. 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 (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, beating 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%. Equities research analysts expect 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 issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.47%. Simon Property Group's payout ratio is currently 115.70%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SPG. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank cut their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $178.39.

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.