OFI Invest Asset Management Invests $587,000 in Simon Property Group, Inc. (NYSE:SPG)

OFI Invest Asset Management purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,530 shares of the real estate investment trust's stock, valued at approximately $587,000.

Other institutional investors also recently modified their holdings of the company. WR Wealth Planners LLC boosted its stake in 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 buying an additional 128 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $30,000. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group during the 4th quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Up 1.5 %

NYSE SPG traded up $2.47 on Wednesday, reaching $165.95. The company had a trading volume of 1,951,062 shares, compared to its average volume of 1,338,635. 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 company's fifty day moving average is $177.62 and its 200 day moving average is $174.54. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The stock has a market capitalization of $54.15 billion, a P/E ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78.

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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 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business's stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPG shares. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. 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 target on the stock. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Finally, Piper Sandler upgraded 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 report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $180.33.

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.