Simon Property Group, Inc. (NYSE:SPG) Stake Lifted by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 358.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,376 shares of the real estate investment trust's stock after purchasing an additional 105,076 shares during the quarter. Simon Property Group comprises 4.7% of Land & Buildings Investment Management LLC's investment portfolio, making the stock its 12th largest holding. Land & Buildings Investment Management LLC's holdings in Simon Property Group were worth $23,141,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Pitcairn Co. lifted its position in Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after acquiring an additional 55 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares during the period. Childress Capital Advisors LLC lifted its position in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock worth $291,000 after purchasing an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent analyst reports. 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. Stifel Nicolaus lifted 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. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to 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

SPG traded up $1.72 during trading hours on Thursday, hitting $162.90. 1,251,470 shares of the stock were exchanged, compared to its average volume of 1,528,556. The stock has a market cap of $53.15 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock has a 50-day simple moving average of $158.11 and a 200-day simple moving average of $171.00. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $3.56 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. Simon Property Group's dividend payout ratio is currently 115.70%.

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.