Yoffe Investment Management LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,383 shares of the real estate investment trust's stock, valued at approximately $583,000.
Other large investors also recently made changes to their positions in the company. Pitcairn Co. grew its position in Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 55 shares during the last quarter. World Investment Advisors lifted its stake in Simon Property Group by 9.7% during the fourth quarter. World Investment Advisors now owns 3,878 shares of the real estate investment trust's stock valued at $668,000 after buying an additional 344 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Simon Property Group by 97.1% in the fourth quarter. Groupama Asset Managment now owns 15,221 shares of the real estate investment trust's stock worth $2,601,000 after buying an additional 7,500 shares during the period. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 230,982 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after acquiring an additional 60 shares during the period. Institutional investors own 93.01% of the company's stock.
Simon Property Group Stock Performance
Shares of NYSE SPG traded down $1.41 during trading hours on Tuesday, reaching $141.93. The stock had a trading volume of 1,367,842 shares, compared to its average volume of 1,473,434. Simon Property Group, Inc. has a twelve month low of $138.11 and a twelve month high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business's fifty day moving average is $173.36 and its two-hundred day moving average is $174.23. The company has a market cap of $46.31 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 10.10 and a beta of 1.45.
Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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%. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.92%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on SPG shares. Jefferies Financial Group upgraded shares of 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 note on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $180.33.
Get Our Latest Analysis on SPG
About Simon Property Group
(
Free Report)
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.
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