ProShare Advisors LLC Has $10.29 Million Position in Simon Property Group, Inc. (NYSE:SPG)

ProShare Advisors LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,758 shares of the real estate investment trust's stock after buying an additional 3,787 shares during the quarter. ProShare Advisors LLC's holdings in Simon Property Group were worth $10,291,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Simon Property Group in the 4th quarter valued at about $2,059,505,000. Northern Trust Corp lifted its stake in 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 valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Capital World Investors bought a new position in Simon Property Group during the fourth quarter worth about $119,777,000. Hamlin Capital Management LLC bought a new position in Simon Property Group during the fourth quarter worth about $109,403,000. Finally, Deutsche Bank AG increased its position in Simon Property Group by 21.0% during the fourth quarter. Deutsche Bank AG now owns 3,590,867 shares of the real estate investment trust's stock worth $618,383,000 after buying an additional 624,000 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock traded down $4.69 on Wednesday, hitting $158.25. The company's stock had a trading volume of 2,158,119 shares, compared to its average volume of 1,535,914. 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 debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock's 50 day moving average is $158.13 and its 200-day moving average is $170.81. The company has a market capitalization of $51.66 billion, a PE ratio of 21.80, a PEG ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $3.56 EPS. The business's revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.31%. Simon Property Group's dividend payout ratio is presently 133.76%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SPG. Scotiabank cut their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $179.67.

Simon Property Group 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.