Price T Rowe Associates Inc. MD Purchases 81,359 Shares of Simon Property Group, Inc. (NYSE:SPG)

Price T Rowe Associates Inc. MD raised its position in Simon Property Group, Inc. (NYSE:SPG) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,653,424 shares of the real estate investment trust’s stock after acquiring an additional 81,359 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Simon Property Group were worth $629,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the 4th quarter worth about $28,000. WR Wealth Planners LLC boosted its position in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $156.45 on Friday. The stock has a market cap of $51.05 billion, a P/E ratio of 21.55, 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. The business’s 50-day moving average price is $164.32 and its two-hundred day moving average price is $172.12. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

A number of research firms recently weighed in on SPG. Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Stifel Nicolaus raised 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. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $178.39.

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.