Resolution Capital Ltd Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Resolution Capital Ltd acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,234,490 shares of the real estate investment trust's stock, valued at approximately $212,592,000. Simon Property Group accounts for approximately 3.8% of Resolution Capital Ltd's portfolio, making the stock its 9th largest position. Resolution Capital Ltd owned approximately 0.38% of Simon Property Group at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $34,000. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPG shares. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank decreased their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday. 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $179.67.

Simon Property Group Stock Performance

NYSE:SPG traded up $2.12 during trading hours on Friday, reaching $165.15. The company had a trading volume of 1,352,577 shares, compared to its average volume of 1,529,937. The firm's 50 day moving average price is $158.09 and its 200-day moving average price is $170.88. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $3.56 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is 115.70%.

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.