Northern Trust Corp Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Northern Trust Corp increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 45.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,462,856 shares of the real estate investment trust’s stock after buying an additional 1,718,398 shares during the quarter. Northern Trust Corp owned about 1.67% of Simon Property Group worth $940,758,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank raised its position in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its holdings in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $416,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank cut their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a report on Wednesday, April 9th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.39.

Simon Property Group Stock Up 1.4 %

Shares of NYSE SPG opened at $158.78 on Tuesday. The stock has a market cap of $51.81 billion, a PE ratio of 21.87, a price-to-earnings-growth 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 52-week low of $136.34 and a 52-week high of $190.14. The business has a 50-day moving average price of $163.19 and a 200 day moving average price of $172.01.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.29%. 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 Company 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.