Toronto Dominion Bank Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Toronto Dominion Bank boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,671 shares of the real estate investment trust's stock after purchasing an additional 10,966 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Simon Property Group worth $28,702,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SPG. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $28,000. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of SPG stock traded down $0.25 during trading hours on Friday, hitting $162.98. The stock had a trading volume of 3,546,174 shares, compared to its average volume of 1,553,685. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $53.20 billion, a PE ratio of 22.45, a PEG ratio of 10.10 and a beta of 1.43. The stock's 50 day moving average is $157.36 and its 200 day moving average is $169.87. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Simon Property Group's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.56 EPS. As a group, research 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler dropped their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Scotiabank dropped their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus raised their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $179.20.

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.