Mercer Global Advisors Inc. ADV Acquires 27,529 Shares of Simon Property Group, Inc. (NYSE:SPG)

Mercer Global Advisors Inc. ADV boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,194 shares of the real estate investment trust's stock after buying an additional 27,529 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Simon Property Group were worth $24,487,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $2,059,505,000. Geode Capital Management LLC lifted 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 in the last quarter. Northern Trust Corp grew its holdings in 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 purchasing an additional 1,718,398 shares during the period. JPMorgan Chase & Co. increased its position in 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. raised its stake 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 during the period. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank reduced 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. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $178.39.

Simon Property Group Trading Down 0.2 %

Simon Property Group stock traded down $0.38 during mid-day trading on Tuesday, hitting $160.48. The company's stock had a trading volume of 1,105,438 shares, compared to its average volume of 1,513,211. 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 moving average of $160.64 and a 200-day moving average of $171.47. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The stock has a market cap of $52.36 billion, a PE ratio of 22.11, a P/E/G ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

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.