BROOKFIELD Corp ON Acquires 77,304 Shares of Simon Property Group, Inc. (NYSE:SPG)

BROOKFIELD Corp ON lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 74.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,222 shares of the real estate investment trust's stock after buying an additional 77,304 shares during the quarter. BROOKFIELD Corp ON owned about 0.06% of Simon Property Group worth $31,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SPG. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank reduced their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective on the stock in a report on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of "Moderate Buy" and a consensus target price of $178.39.

Simon Property Group Price Performance

Shares of SPG traded up $1.52 during trading hours on Thursday, hitting $162.99. 1,386,982 shares of the company were exchanged, compared to its average volume of 1,508,374. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 10.10 and a beta of 1.43. The firm's fifty day moving average is $159.21 and its 200 day moving average is $171.25. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results 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%. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

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.