Wilmington Savings Fund Society FSB Has $1.18 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Wilmington Savings Fund Society FSB lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 38.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,827 shares of the real estate investment trust's stock after purchasing an additional 1,895 shares during the period. Wilmington Savings Fund Society FSB's holdings in Simon Property Group were worth $1,176,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock worth $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. grew its position in Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust's stock valued at $442,892,000 after purchasing an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock valued at $251,484,000 after purchasing an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in Simon Property Group by 6.9% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust's stock valued at $193,023,000 after purchasing an additional 73,742 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SPG shares. Jefferies Financial Group raised shares of 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. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report 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 set a "hold" rating and a $195.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $175.10.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Down 0.6 %

NYSE SPG traded down $1.10 during trading on Friday, reaching $185.12. The company's stock had a trading volume of 998,005 shares, compared to its average volume of 1,326,453. 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 capitalization of $60.40 billion, a PE ratio of 25.50, a PEG ratio of 9.58 and a beta of 1.74. The business has a 50-day moving average price of $175.69 and a 200-day moving average price of $171.22. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.14.

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 for the quarter, topping analysts' consensus estimates 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, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's payout ratio is 115.70%.

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.