Quadrature Capital Ltd Invests $1.37 Million in Simon Property Group, Inc. (NYSE:SPG)

Quadrature Capital Ltd acquired a new position in Simon Property Group, Inc. (NYSE:SPGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,607 shares of the real estate investment trust’s stock, valued at approximately $1,370,000.

Several other institutional investors have also recently made changes to their positions in SPG. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter worth about $2,561,181,000. International Assets Investment Management LLC raised its stake in Simon Property Group by 13,226.4% during the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares during the period. Panagora Asset Management Inc. raised its stake in Simon Property Group by 11,722.9% during the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after purchasing an additional 667,034 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Simon Property Group by 160.1% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after purchasing an additional 469,855 shares during the period. Finally, American Century Companies Inc. increased its stake in Simon Property Group by 65.3% in the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after acquiring an additional 337,430 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPG. Truist Financial lifted their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Evercore ISI lifted their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Morgan Stanley lifted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Scotiabank lifted their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.33.

Check Out Our Latest Analysis on Simon Property Group

Simon Property Group Price Performance

SPG opened at $152.04 on Tuesday. The business has a fifty day moving average of $146.71 and a 200 day moving average of $144.81. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $157.82. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock has a market cap of $49.56 billion, a P/E ratio of 19.37, a PEG ratio of 9.03 and a beta of 1.71.

Simon Property Group (NYSE:SPGGet Free Report) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.74 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.26%. Simon Property Group’s payout ratio is 101.91%.

Simon Property Group Profile

(Free Report)

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.

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

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