Invesco Ltd. Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Invesco Ltd. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,216,575 shares of the real estate investment trust’s stock after buying an additional 542,511 shares during the quarter. Invesco Ltd. owned approximately 1.29% of Simon Property Group worth $726,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC increased its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the fourth quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $31,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $143.18 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company’s 50-day moving average price is $173.36 and its 200 day moving average price is $174.23. Simon Property Group, Inc. has a 52 week low of $138.11 and a 52 week high of $190.14. The company has a market cap of $46.72 billion, a P/E ratio of 19.72, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 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.