SageView Advisory Group LLC Acquires 185 Shares of Simon Property Group, Inc. (NYSE:SPG)

SageView Advisory Group LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 10.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,979 shares of the real estate investment trust’s stock after purchasing an additional 185 shares during the quarter. SageView Advisory Group LLC’s holdings in Simon Property Group were worth $341,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter valued at $2,059,505,000. Geode Capital Management LLC raised its stake in Simon Property Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after purchasing an additional 230,982 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $811,202,000 after purchasing an additional 246,630 shares during the period. Invesco Ltd. grew its stake 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 worth $726,136,000 after buying an additional 542,511 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after buying an additional 64,418 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target on the stock in a report on Wednesday, April 9th. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Stock Down 0.3 %

Shares of NYSE SPG opened at $149.35 on Wednesday. The company has a 50 day simple moving average of $168.88 and a 200 day simple moving average of $173.01. 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 1 year low of $136.34 and a 1 year high of $190.14. The firm has a market cap of $48.73 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business 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. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.62%. Simon Property Group’s dividend payout ratio (DPR) 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.