Los Angeles Capital Management LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC boosted its position in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,980 shares of the real estate investment trust’s stock after buying an additional 6,271 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $26,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Simon Property Group by 3.5% in the 4th quarter. BlackRock Inc. now owns 35,039,594 shares of the real estate investment trust’s stock valued at $5,598,275,000 after purchasing an additional 1,181,872 shares in the last quarter. State Street Corp lifted its stake in Simon Property Group by 7.4% in the fourth quarter. State Street Corp now owns 21,332,871 shares of the real estate investment trust’s stock worth $3,408,353,000 after purchasing an additional 1,478,289 shares during the last quarter. Geode Capital Management LLC lifted its stake in Simon Property Group by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 7,468,805 shares of the real estate investment trust’s stock worth $1,192,310,000 after purchasing an additional 693,293 shares during the last quarter. Deutsche Bank AG boosted its position in Simon Property Group by 8.5% during the fourth quarter. Deutsche Bank AG now owns 3,542,890 shares of the real estate investment trust’s stock valued at $566,047,000 after buying an additional 276,291 shares during the period. Finally, Norges Bank bought a new position in shares of Simon Property Group during the fourth quarter valued at about $518,891,000. 91.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft lowered their target price on Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Truist Financial dropped their price objective on Simon Property Group from $155.00 to $130.00 in a research note on Friday, June 3rd. Morgan Stanley decreased their target price on shares of Simon Property Group from $145.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. Piper Sandler dropped their price target on shares of Simon Property Group to $130.00 in a research report on Monday, July 4th. Finally, Stifel Nicolaus cut their price target on shares of Simon Property Group from $180.00 to $165.00 in a report on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.07.

Simon Property Group Price Performance

SPG opened at $106.50 on Friday. The company’s 50-day simple moving average is $101.77 and its two-hundred day simple moving average is $120.94. Simon Property Group, Inc. has a 52-week low of $93.06 and a 52-week high of $171.12. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.10 and a current ratio of 1.02. The stock has a market capitalization of $35.00 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.51 and a beta of 1.49.

Simon Property Group (NYSE:SPGGet Rating) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the business earned $2.92 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that Simon Property Group, Inc. will post 11.7 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Thursday, September 8th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.70. Simon Property Group’s dividend payout ratio is 106.08%.

Simon Property Group Company Profile

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Read More

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPGGet Rating).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.