Price T Rowe Associates Inc. MD Has $629.16 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Price T Rowe Associates Inc. MD increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,653,424 shares of the real estate investment trust's stock after acquiring an additional 81,359 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.12% of Simon Property Group worth $629,158,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pitcairn Co. raised its holdings in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 55 shares during the period. Childress Capital Advisors LLC increased its position in Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after buying an additional 58 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after buying an additional 59 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after acquiring an additional 60 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPG. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a research report on Wednesday, April 9th. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.39.

Simon Property Group Trading Up 2.1 %

Shares of SPG stock opened at $156.45 on Friday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a 50-day simple moving average of $164.32 and a two-hundred day simple moving average of $172.12. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $51.05 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors 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 5.37%. Simon Property Group's payout ratio is currently 115.70%.

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.

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