Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Ethic Inc.

Ethic Inc. increased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 26.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,476 shares of the real estate investment trust's stock after acquiring an additional 11,095 shares during the period. Ethic Inc.'s holdings in Simon Property Group were worth $9,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC increased its stake in Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock worth $1,577,600,000 after acquiring an additional 230,982 shares during the last quarter. Northern Trust Corp increased its position in Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after purchasing an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after purchasing an additional 542,511 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank cut 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. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday. Finally, StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $179.67.

Simon Property Group Stock Down 6.2%

Shares of SPG stock traded down $10.60 during trading hours on Tuesday, reaching $160.84. 3,836,070 shares of the company's stock were exchanged, compared to its average volume of 1,525,188. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The stock's 50 day moving average is $158.58 and its 200-day moving average is $171.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $52.48 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 10.10 and a beta of 1.43.

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, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.56 earnings per share. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.22%. Simon Property Group's 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.