Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 64.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,493 shares of the real estate investment trust’s stock after acquiring an additional 267,661 shares during the period. American Century Companies Inc.’s holdings in Simon Property Group were worth $118,049,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $28,000. WR Wealth Planners LLC increased its position in 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 worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter valued at $30,000. TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $41,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $162.12 on Monday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm has a market cap of $52.90 billion, a P/E ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. The stock has a fifty day moving average price of $176.11 and a two-hundred day moving average price of $174.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analyst Ratings Changes

Several analysts recently weighed in on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.33.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by insiders.

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.