Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1,633.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,384 shares of the real estate investment trust's stock after purchasing an additional 132,286 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Simon Property Group were worth $24,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SPG. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $834,000. First Hawaiian Bank increased its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after buying an additional 421 shares during the period. Asset Management One Co. Ltd. boosted its stake 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 worth $101,130,000 after buying an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Simon Property Group in the 4th quarter valued at about $416,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.8 %

Shares of SPG traded up $2.90 during midday trading on Friday, reaching $161.77. 1,319,863 shares of the company were exchanged, compared to its average volume of 1,516,942. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The stock has a 50-day moving average price of $161.11 and a 200-day moving average price of $171.60. 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 company has a market cap of $52.78 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 10.10 and a beta of 1.43.

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 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%. Research analysts expect 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 paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank cut their price objective 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. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus upgraded 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. Finally, 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 report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.