Fort Washington Investment Advisors Inc. OH Purchases 8,105 Shares of Simon Property Group, Inc. (NYSE:SPG)

Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 190,145 shares of the real estate investment trust's stock after purchasing an additional 8,105 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.06% of Simon Property Group worth $31,579,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Simon Property Group in the 4th quarter worth $2,059,505,000. Northern Trust Corp boosted its stake 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. Resolution Capital Ltd purchased a new position in shares of Simon Property Group in the 4th quarter worth $212,592,000. GAMMA Investing LLC boosted its stake in shares of Simon Property Group by 16,346.0% in the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after buying an additional 871,405 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Simon Property Group in the 4th quarter worth $119,777,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPG. 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 note on Friday, May 23rd. Mizuho lowered their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $179.00.

Simon Property Group Trading Down 0.7%

NYSE SPG traded down $1.08 during trading hours on Thursday, hitting $158.62. 1,564,962 shares of the company were exchanged, compared to its average volume of 1,538,250. The stock has a 50-day moving average price of $157.15 and a 200 day moving average price of $168.88. 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, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The stock has a market cap of $51.78 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

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, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $3.56 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 5.30%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

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.