Waterfront Capital Partners LLC Takes $24.90 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Waterfront Capital Partners LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 144,602 shares of the real estate investment trust's stock, valued at approximately $24,902,000. Simon Property Group makes up 4.6% of Waterfront Capital Partners LLC's holdings, making the stock its 8th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC increased its position in Simon Property Group by 2.6% in the fourth 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 buying an additional 230,982 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $811,202,000 after buying an additional 246,630 shares in the last quarter. Invesco Ltd. raised its position in shares of Simon Property Group by 14.8% during 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 buying an additional 542,511 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Simon Property Group by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,653,424 shares of the real estate investment trust's stock valued at $629,158,000 after acquiring an additional 81,359 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Piper Sandler upgraded 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. Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Scotiabank lowered their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Stock Up 0.3 %

Shares of NYSE SPG traded up $0.49 during trading on Friday, reaching $156.69. 1,421,754 shares of the stock were exchanged, compared to its average volume of 1,515,281. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The business's 50-day moving average price is $163.73 and its 200 day moving average price is $172.09. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $51.12 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

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.