Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Toronto Dominion Bank

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

Other large investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Simon Property Group by 48.0% in the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock worth $1,231,000 after purchasing an additional 2,320 shares in the last quarter. Vert Asset Management LLC grew its stake in Simon Property Group by 3.1% during the 4th quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock worth $21,595,000 after buying an additional 3,783 shares during the last quarter. Highland Capital Management LLC purchased a new position in Simon Property Group during the 4th quarter worth $1,190,000. Finally, KBC Group NV increased its position in Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPG shares. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank lowered their target price 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. 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 research report on Tuesday, May 13th. Piper Sandler cut their price target on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $179.20.

Simon Property Group Stock Performance

SPG traded up $2.10 during trading on Thursday, reaching $163.31. 1,337,259 shares of the company's stock were exchanged, compared to its average volume of 1,545,482. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company's fifty day simple moving average is $157.48 and its 200-day simple moving average is $170.16. The stock has a market capitalization of $53.31 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share 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 earned $3.56 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict 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 paid a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.14%. Simon Property Group's payout ratio is currently 133.76%.

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.