Lighthouse Investment Partners LLC Buys 35,000 Shares of Simon Property Group, Inc. (NYSE:SPG)

Lighthouse Investment Partners LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 43.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,000 shares of the real estate investment trust's stock after purchasing an additional 35,000 shares during the period. Simon Property Group accounts for approximately 0.7% of Lighthouse Investment Partners LLC's holdings, making the stock its 29th biggest position. Lighthouse Investment Partners LLC's holdings in Simon Property Group were worth $19,804,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Simon Property Group in the 4th quarter valued at about $2,059,505,000. Geode Capital Management LLC raised its position in Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after purchasing an additional 230,982 shares during the period. Northern Trust Corp lifted 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 valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock worth $811,202,000 after purchasing an additional 246,630 shares during the period. Finally, Invesco Ltd. increased its position in shares of Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after purchasing an additional 542,511 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 1.1%

Simon Property Group stock traded up $1.72 during trading hours on Thursday, hitting $162.90. The company had a trading volume of 1,251,470 shares, compared to its average volume of 1,528,556. The firm has a market cap of $53.15 billion, a P/E ratio of 22.44, a P/E/G ratio of 10.10 and a beta of 1.43. The company has a 50-day moving average price of $158.11 and a two-hundred day moving average price of $171.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.56 earnings per share. On average, sell-side analysts anticipate 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. Investors of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, 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 note on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $179.67.

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.