Artemis Investment Management LLP Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Artemis Investment Management LLP boosted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 224.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,371 shares of the real estate investment trust's stock after buying an additional 321,897 shares during the period. Simon Property Group makes up 1.2% of Artemis Investment Management LLP's investment portfolio, making the stock its 21st biggest holding. Artemis Investment Management LLP owned approximately 0.14% of Simon Property Group worth $77,289,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SPG. Norges Bank purchased a new position in shares of Simon Property Group in the 4th quarter worth about $2,059,505,000. Geode Capital Management LLC grew its position in 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 valued at $1,577,600,000 after acquiring an additional 230,982 shares during the last quarter. Northern Trust Corp raised its stake in shares of Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after acquiring an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings 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 acquiring an additional 542,511 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of analyst reports. Stifel Nicolaus lifted 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 objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Scotiabank raised their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $179.44.

Simon Property Group Price Performance

NYSE SPG opened at $160.70 on Friday. The stock has a market cap of $52.45 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 8.78 and a beta of 1.47. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company's 50 day moving average is $159.47 and its two-hundred day moving average is $167.03. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.56 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

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.

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