Simon Property Group, Inc. (NYSE:SPG) Stake Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 88.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,363 shares of the real estate investment trust's stock after buying an additional 11,898 shares during the quarter. NewEdge Advisors LLC's holdings in Simon Property Group were worth $4,368,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank grew its stake in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc increased its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $416,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on SPG. Scotiabank lowered their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a research note on Wednesday, April 9th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.39.

Simon Property Group Stock Performance

Simon Property Group stock traded up $1.03 during mid-day trading on Friday, reaching $157.23. The company's stock had a trading volume of 512,087 shares, compared to its average volume of 1,666,247. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The business has a 50 day moving average price of $164.32 and a 200-day moving average price of $172.12. The firm has a market cap of $51.30 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

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

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.34%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.