NewEdge Advisors LLC Buys 11,898 Shares of Simon Property Group, Inc. (NYSE:SPG)

NewEdge Advisors LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 88.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,363 shares of the real estate investment trust’s stock after buying an additional 11,898 shares during the period. NewEdge Advisors LLC’s holdings in Simon Property Group were worth $4,368,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $2,059,505,000. Hamlin Capital Management LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $109,403,000. KBC Group NV increased its stake in 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 purchasing an additional 554,605 shares in the last quarter. Invesco Ltd. raised its holdings 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 during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after buying an additional 539,893 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.5 %

NYSE SPG opened at $150.31 on Friday. The business’s fifty day moving average is $166.96 and its 200-day moving average is $172.60. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

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

Simon Property Group Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.39.

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.