Treasurer of the State of North Carolina Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Treasurer of the State of North Carolina lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,350 shares of the real estate investment trust's stock after purchasing an additional 4,023 shares during the quarter. Treasurer of the State of North Carolina owned about 0.07% of Simon Property Group worth $36,741,000 at the end of the most recent reporting period.

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

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Simon Property Group Stock Up 0.7 %

SPG stock traded up $0.99 during mid-day trading on Wednesday, reaching $150.36. The company had a trading volume of 468,956 shares, compared to its average volume of 1,496,632. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a market capitalization of $49.06 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 10.10 and a beta of 1.45. The stock has a 50 day simple moving average of $168.88 and a two-hundred day simple moving average of $173.01. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

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%. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued 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 5.59%. Simon Property Group's payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research report on Wednesday, April 9th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.39.

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.