American Century Companies Inc. Boosts Position in Simon Property Group, Inc. (NYSE:SPG)

American Century Companies Inc. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 64.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 685,493 shares of the real estate investment trust's stock after buying an additional 267,661 shares during the period. American Century Companies Inc. owned about 0.21% of Simon Property Group worth $118,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group during the 3rd quarter valued at $834,000. First Hawaiian Bank boosted its stake in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares during the period. Versant Capital Management Inc boosted its stake in shares of Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in Simon Property Group in the 4th quarter worth about $416,000. Institutional investors own 93.01% of the company's stock.

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Simon Property Group Stock Down 0.1 %

Simon Property Group stock traded down $0.23 during trading hours on Tuesday, reaching $165.89. The stock had a trading volume of 819,691 shares, compared to its average volume of 1,510,062. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.13. The business's 50 day moving average price is $175.98 and its 200-day moving average price is $174.45. 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 $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating in a research note on Friday. Jefferies Financial Group raised 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 note on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. 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, Simon Property Group has an average rating of "Moderate Buy" and an average price target of $180.33.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company's stock.

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.