Simon Property Group, Inc. (NYSE:SPG) Position Boosted by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 94.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,711 shares of the real estate investment trust’s stock after buying an additional 7,150 shares during the quarter. Ieq Capital LLC’s holdings in Simon Property Group were worth $1,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. AMI Investment Management Inc. grew its holdings in Simon Property Group by 1.2% in the 1st quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock worth $2,312,000 after buying an additional 204 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Simon Property Group by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 371 shares in the last quarter. Blair William & Co. IL boosted its stake in Simon Property Group by 56.8% during the 1st quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after purchasing an additional 20,022 shares in the last quarter. Prudential PLC bought a new position in Simon Property Group during the 1st quarter valued at $642,000. Finally, Dakota Wealth Management bought a new position in Simon Property Group during the 1st quarter valued at $390,000. 83.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore ISI decreased their price target on Simon Property Group to $114.00 in a research note on Thursday, October 20th. Wolfe Research assumed coverage on Simon Property Group in a research note on Tuesday, October 18th. They set a “peer perform” rating for the company. StockNews.com assumed coverage on Simon Property Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Finally, Piper Sandler increased their price objective on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $130.00.

Simon Property Group Price Performance

SPG opened at $125.45 on Wednesday. The stock has a fifty day moving average of $119.10 and a 200-day moving average of $108.94. The firm has a market capitalization of $41.02 billion, a P/E ratio of 20.94, a PEG ratio of 2.71 and a beta of 1.48. Simon Property Group, Inc. has a 12-month low of $86.02 and a 12-month high of $151.87. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 7.17.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were issued a $1.80 dividend. The ex-dividend date was Thursday, December 8th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 5.74%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is presently 120.20%.

About Simon Property Group

(Get Rating)

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.

Further Reading

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

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