World Investment Advisors Buys 344 Shares of Simon Property Group, Inc. (NYSE:SPG)

World Investment Advisors raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,878 shares of the real estate investment trust’s stock after acquiring an additional 344 shares during the quarter. World Investment Advisors’ holdings in Simon Property Group were worth $668,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SPG. Norges Bank bought a new position in Simon Property Group during the fourth quarter valued at about $2,059,505,000. Geode Capital Management LLC raised its stake in shares of 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% in 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. Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after buying an additional 64,418 shares in the last quarter. Finally, Boston Partners increased its holdings in Simon Property Group by 7.0% in the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock valued at $431,304,000 after buying an additional 162,764 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPG. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised 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. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Price Performance

Shares of SPG stock opened at $146.15 on Monday. Simon Property Group, Inc. has a 52 week low of $137.35 and a 52 week high of $190.14. The stock has a market capitalization of $47.68 billion, a PE ratio of 20.13, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock’s fifty day moving average is $174.03 and its 200-day moving average is $174.40.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

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.