Toroso Investments LLC Purchases 1,208 Shares of Simon Property Group, Inc. (NYSE:SPG)

Toroso Investments LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 15.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,841 shares of the real estate investment trust’s stock after purchasing an additional 1,208 shares during the period. Toroso Investments LLC’s holdings in Simon Property Group were worth $990,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cowa LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $107,000. Norges Bank purchased a new stake in Simon Property Group in the fourth quarter worth about $807,887,000. Envestnet Asset Management Inc. raised its holdings in Simon Property Group by 567.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,639,400 shares of the real estate investment trust’s stock worth $52,756,000 after purchasing an additional 2,244,239 shares in the last quarter. Boston Partners lifted its position in Simon Property Group by 31,810.8% during the first quarter. Boston Partners now owns 2,028,888 shares of the real estate investment trust’s stock valued at $227,184,000 after buying an additional 2,022,530 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Simon Property Group by 110.7% during the 4th quarter. Deutsche Bank AG now owns 3,114,524 shares of the real estate investment trust’s stock valued at $365,894,000 after buying an additional 1,636,053 shares in the last quarter. 84.73% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.8 %

Shares of SPG opened at $114.26 on Tuesday. The firm has a fifty day moving average price of $118.18 and a 200-day moving average price of $112.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.67. The firm has a market capitalization of $37.39 billion, a P/E ratio of 17.36, a P/E/G ratio of 4.83 and a beta of 1.54. Simon Property Group, Inc. has a 12-month low of $86.02 and a 12-month high of $133.08.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $1.90 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $7.60 annualized dividend and a yield of 6.65%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s dividend payout ratio is 115.50%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of analyst reports. Mizuho decreased their target price on shares of Simon Property Group from $116.00 to $106.00 in a research note on Friday, May 26th. StockNews.com initiated coverage on Simon Property Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price target on Simon Property Group from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 29th. Wolfe Research raised Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 target price on the stock in a report on Wednesday, July 5th. Finally, Truist Financial reduced their price target on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a research report on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.36.

Simon Property Group Profile

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.