Quantinno Capital Management LP Purchases 10,354 Shares of Simon Property Group, Inc. (NYSE:SPG)

Quantinno Capital Management LP increased its position in Simon Property Group, Inc. (NYSE:SPG) by 21.5% in the 4th quarter, Holdings Channel reports. The firm owned 58,576 shares of the real estate investment trust’s stock after buying an additional 10,354 shares during the quarter. Quantinno Capital Management LP’s holdings in Simon Property Group were worth $10,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Brookstone Capital Management lifted its position in Simon Property Group by 2.6% in the fourth quarter. Brookstone Capital Management now owns 21,728 shares of the real estate investment trust’s stock worth $3,742,000 after purchasing an additional 558 shares during the period. Marcum Wealth LLC bought a new position in Simon Property Group in the fourth quarter worth $203,000. Fifth Third Wealth Advisors LLC lifted its position in Simon Property Group by 2.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,639 shares of the real estate investment trust’s stock worth $627,000 after purchasing an additional 85 shares during the period. Park Avenue Securities LLC lifted its position in Simon Property Group by 0.6% in the fourth quarter. Park Avenue Securities LLC now owns 12,420 shares of the real estate investment trust’s stock worth $2,139,000 after purchasing an additional 71 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Simon Property Group by 23.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 508 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 95 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPG shares. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank dropped their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Simon Property Group Price Performance

Shares of SPG stock opened at $161.04 on Thursday. The stock has a 50-day moving average price of $158.11 and a 200 day moving average price of $171.00. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market cap of $52.54 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $3.56 earnings per share. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.22%. Simon Property Group’s payout ratio is currently 115.70%.

Simon Property Group 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.