2,504 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,504 shares of the real estate investment trust's stock, valued at approximately $431,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Simon Property Group in the fourth quarter worth $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% during 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 purchasing an additional 230,982 shares during the last quarter. JPMorgan Chase & Co. grew 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 acquiring an additional 246,630 shares in the last quarter. Invesco Ltd. lifted its position in shares of Simon Property Group by 14.8% in 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 worth $626,419,000 after purchasing an additional 64,418 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Down 2.0 %

Shares of NYSE:SPG traded down $2.98 during midday trading on Monday, hitting $147.43. 178,076 shares of the stock were exchanged, compared to its average volume of 1,500,533. The business's fifty day simple moving average is $166.96 and its two-hundred day simple moving average is $172.63. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. 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 $48.10 billion, a PE ratio of 20.34, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 yield of 5.70%. Simon Property Group's dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research reports. Scotiabank set a $186.00 price target on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus upgraded 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average 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.