Simon Property Group, Inc. (NYSE:SPG) Position Lifted by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 33.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,057 shares of the real estate investment trust’s stock after purchasing an additional 2,502 shares during the period. CreativeOne Wealth LLC’s holdings in Simon Property Group were worth $1,732,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPG. Norges Bank acquired a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $2,059,505,000. Geode Capital Management LLC raised its stake in Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock worth $1,577,600,000 after acquiring an additional 230,982 shares during the period. JPMorgan Chase & Co. lifted its holdings in Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after acquiring an additional 246,630 shares during the last quarter. Invesco Ltd. boosted its stake in Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after acquiring an additional 542,511 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after purchasing an additional 64,418 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $149.35 on Wednesday. The company has a 50-day simple moving average of $168.88 and a 200 day simple moving average of $173.01. The company has a market capitalization of $48.73 billion, a P/E ratio of 20.57, a PEG ratio of 10.10 and a beta of 1.45. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.62%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPG. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target for the company in a report on Wednesday, April 9th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $181.39.

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.