Russell Investments Group Ltd. Buys 64,802 Shares of Simon Property Group, Inc. (NYSE:SPG)

Russell Investments Group Ltd. lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,493,987 shares of the real estate investment trust's stock after buying an additional 64,802 shares during the period. Russell Investments Group Ltd. owned approximately 0.46% of Simon Property Group worth $257,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Simon Property Group in the 4th quarter worth $2,059,505,000. Geode Capital Management LLC grew its position in shares of Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after buying an additional 230,982 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after buying an additional 246,630 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock valued at $626,419,000 after acquiring an additional 64,418 shares in the last quarter. Finally, Boston Partners increased its position in Simon Property Group by 7.0% during the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust's stock valued at $431,304,000 after purchasing an additional 162,764 shares during the period. Institutional investors own 93.01% of the company's stock.

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Simon Property Group Trading Down 3.1 %

NYSE SPG traded down $4.79 during trading hours on Thursday, hitting $148.39. 974,871 shares of the company were exchanged, compared to its average volume of 1,492,987. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. 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 stock has a 50-day moving average price of $171.10 and a 200 day moving average price of $173.55. The stock has a market cap of $48.42 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.66%. Simon Property Group's payout ratio is 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several research reports. Jefferies Financial Group raised 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 research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Stifel Nicolaus upgraded 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 note on Wednesday. Finally, StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $181.39.

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.