Toronto Dominion Bank Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Toronto Dominion Bank grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,671 shares of the real estate investment trust's stock after acquiring an additional 10,966 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Simon Property Group worth $28,702,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $2,059,505,000. Geode Capital Management LLC raised its stake in Simon Property Group by 2.6% during 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 acquiring an additional 230,982 shares during the period. Northern Trust Corp raised its position 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 valued at $940,758,000 after buying an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Simon Property Group by 5.5% in the fourth 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 in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after buying an additional 542,511 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

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

Simon Property Group Trading Down 2.9%

Shares of SPG traded down $4.69 during trading hours on Wednesday, reaching $158.25. 2,158,119 shares of the company traded hands, compared to its average volume of 1,537,650. The firm has a market cap of $51.66 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock's fifty day moving average price is $158.08 and its 200 day moving average price is $170.73.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.56 earnings per share. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 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.