QRG Capital Management Inc. Has $32.13 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

QRG Capital Management Inc. grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 186,547 shares of the real estate investment trust’s stock after acquiring an additional 7,680 shares during the period. QRG Capital Management Inc.’s holdings in Simon Property Group were worth $32,125,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. grew its holdings in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after buying an additional 88,378 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after buying an additional 25,519 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after buying an additional 98,366 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after buying an additional 993,694 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.1 %

SPG opened at $183.99 on Thursday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $60.03 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company’s 50-day moving average price is $176.75 and its two-hundred day moving average price is $173.32.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $178.44.

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.