Sterling Capital Management LLC Purchases 3,247 Shares of Simon Property Group, Inc. (NYSE:SPG)

Sterling Capital Management LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,708 shares of the real estate investment trust's stock after buying an additional 3,247 shares during the period. Sterling Capital Management LLC's holdings in Simon Property Group were worth $6,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Simon Property Group during the fourth quarter worth about $2,059,505,000. Geode Capital Management LLC raised its holdings in Simon Property Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after acquiring an additional 230,982 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after acquiring an additional 246,630 shares during the period. Invesco Ltd. grew its position in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after purchasing an additional 542,511 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Simon Property Group by 1.8% during the 4th 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 purchasing an additional 64,418 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

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Wall Street Analyst Weigh In

SPG has been the subject of a number of recent analyst reports. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a report on Wednesday, April 9th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $181.39.

Simon Property Group Trading Down 0.8 %

Shares of SPG traded down $1.16 during mid-day trading on Wednesday, reaching $148.21. The company's stock had a trading volume of 1,435,390 shares, compared to its average volume of 1,686,948. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market cap of $48.36 billion, a PE ratio of 20.41, a P/E/G ratio of 10.10 and a beta of 1.45. The company's fifty day moving average price is $168.88 and its two-hundred day moving average price is $173.01. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

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 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%. On average, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's payout ratio is currently 115.70%.

About Simon Property Group

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.