GF Fund Management CO. LTD. Acquires New Stake in Simon Property Group, Inc. (NYSE:SPG)

GF Fund Management CO. LTD. purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,925 shares of the real estate investment trust's stock, valued at approximately $1,020,000.

A number of other hedge funds have also recently modified their holdings of SPG. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Geode Capital Management LLC lifted its holdings in Simon Property Group by 2.6% in the 4th 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 during the period. Northern Trust Corp grew its position in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after buying an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 during the last quarter. Finally, Invesco Ltd. increased its stake 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 period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Down 0.5%

Simon Property Group stock traded down $0.82 during mid-day trading on Friday, hitting $162.41. The company had a trading volume of 376,562 shares, compared to its average volume of 1,542,552. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a market capitalization of $53.01 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock's 50 day moving average price is $157.42 and its two-hundred day moving average price is $170.04. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the previous year, the business posted $3.56 EPS. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.17%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Piper Sandler dropped their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Scotiabank decreased their price objective on 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. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and an average price target of $179.20.

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.