Price T Rowe Associates Inc. MD Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Price T Rowe Associates Inc. MD lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,653,424 shares of the real estate investment trust's stock after acquiring an additional 81,359 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.12% of Simon Property Group worth $629,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in Simon Property Group in the 3rd quarter worth about $155,000. SkyView Investment Advisors LLC grew its stake in Simon Property Group by 4.3% during the third quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust's stock valued at $643,000 after acquiring an additional 158 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Simon Property Group by 17.3% in the third quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust's stock worth $597,000 after purchasing an additional 521 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group in the third quarter worth $834,000. Finally, Blankinship & Foster LLC purchased a new stake in shares of Simon Property Group in the third quarter worth $608,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.8 %

Simon Property Group stock traded down $1.24 during trading hours on Wednesday, reaching $155.57. The company had a trading volume of 576,099 shares, compared to its average volume of 1,512,482. The firm has a market cap of $50.76 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. 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 company has a 50-day moving average price of $162.59 and a 200 day moving average price of $171.91.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.40%. Simon Property Group's dividend payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Scotiabank decreased their target price on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus raised shares of Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $178.39.

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.