Tower Research Capital LLC TRC Has $2.79 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Tower Research Capital LLC TRC cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,219 shares of the real estate investment trust's stock after selling 3,435 shares during the quarter. Tower Research Capital LLC TRC's holdings in Simon Property Group were worth $2,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPG. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Capital World Investors purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $119,777,000. Hamlin Capital Management LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $109,403,000. KBC Group NV boosted its stake in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock valued at $151,597,000 after buying an additional 554,605 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock valued at $726,136,000 after buying an additional 542,511 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

NYSE SPG traded up $0.49 during trading hours on Friday, hitting $156.69. The company had a trading volume of 1,421,754 shares, compared to its average volume of 1,515,281. The firm has a market cap of $51.12 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The business has a fifty day simple moving average of $163.73 and a 200-day simple moving average of $172.09.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 target price for the company in a research note on Wednesday, April 9th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Scotiabank reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Moderate Buy" and an average target price of $178.39.

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.