Worldquant Millennium Advisors LLC Has $66.54 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Worldquant Millennium Advisors LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 93.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 386,359 shares of the real estate investment trust's stock after buying an additional 186,293 shares during the period. Worldquant Millennium Advisors LLC owned 0.12% of Simon Property Group worth $66,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Carnegie Investment Counsel increased its stake in Simon Property Group by 4.3% in the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust's stock valued at $270,000 after buying an additional 65 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $416,000. HB Wealth Management LLC grew its position in shares of Simon Property Group by 14.0% in the 4th quarter. HB Wealth Management LLC now owns 5,851 shares of the real estate investment trust's stock valued at $1,008,000 after acquiring an additional 718 shares during the period. Diversify Wealth Management LLC grew its position in shares of Simon Property Group by 2.5% in the 4th quarter. Diversify Wealth Management LLC now owns 3,035 shares of the real estate investment trust's stock valued at $519,000 after acquiring an additional 74 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $263,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $164.40 on Tuesday. The company has a market capitalization of $53.66 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 10.10 and a beta of 1.43. 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 company has a 50-day simple moving average of $158.06 and a 200 day simple moving average of $170.87. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14.

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 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.56 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm 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. This represents a $8.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPG shares. Scotiabank decreased 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 report on Wednesday, April 23rd. Stifel Nicolaus lifted 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. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of "Moderate Buy" and a consensus price target of $179.67.

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.

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