NEOS Investment Management LLC Raises Position in Simon Property Group, Inc. (NYSE:SPG)

NEOS Investment Management LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,292 shares of the real estate investment trust's stock after purchasing an additional 3,728 shares during the quarter. NEOS Investment Management LLC's holdings in Simon Property Group were worth $2,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new stake in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC raised its position in shares of 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 valued at $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $30,000. TCTC Holdings LLC purchased a new position in Simon Property Group in the fourth quarter worth about $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $41,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 1.6 %

NYSE SPG traded up $2.66 on Wednesday, reaching $169.13. 350,971 shares of the company were exchanged, compared to its average volume of 1,440,647. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock has a market capitalization of $55.18 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business's fifty day moving average price is $175.08 and its 200 day moving average price is $174.56. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

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

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analysts Set New Price Targets

Several brokerages have issued reports on SPG. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and upped their price objective for the company 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. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group currently 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.