Royal London Asset Management Ltd. Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Royal London Asset Management Ltd. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,909 shares of the real estate investment trust’s stock after buying an additional 539 shares during the period. Royal London Asset Management Ltd.’s holdings in Simon Property Group were worth $31,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at $30,000. TCTC Holdings LLC bought a new position in shares of Simon Property Group during the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Price Performance

SPG stock opened at $164.36 on Friday. 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 one year low of $139.25 and a one year high of $190.14. The stock has a market cap of $53.63 billion, a PE ratio of 22.64, a P/E/G ratio of 10.10 and a beta of 1.78. The firm has a 50 day simple moving average of $176.29 and a two-hundred day simple moving average of $174.33.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.11%. Simon Property Group’s dividend payout ratio is presently 115.70%.

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.