Wellington Management Group LLP Purchases 37,384 Shares of Simon Property Group, Inc. (NYSE:SPG)

Wellington Management Group LLP increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 921,576 shares of the real estate investment trust's stock after acquiring an additional 37,384 shares during the quarter. Wellington Management Group LLP owned about 0.28% of Simon Property Group worth $158,705,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPG. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC raised its stake in 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 worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group in the fourth quarter valued at about $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Down 2.0 %

NYSE:SPG traded down $2.87 on Monday, hitting $143.18. 3,517,012 shares of the company's stock were exchanged, compared to its average volume of 1,474,711. The firm has a 50-day moving average price of $173.36 and a 200-day moving average price of $174.23. Simon Property Group, Inc. has a 52 week low of $138.11 and a 52 week 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. The company has a market cap of $46.72 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

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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, topping 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%. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.87%. Simon Property Group's dividend payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SPG shares. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average target price of $180.33.

Simon Property Group Company 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.