Geode Capital Management LLC Has $1.58 Billion Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Geode Capital Management LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,160,242 shares of the real estate investment trust’s stock after purchasing an additional 230,982 shares during the period. Geode Capital Management LLC owned 2.81% of Simon Property Group worth $1,577,600,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Hamlin Capital Management LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $109,403,000. KBC Group NV raised its holdings in Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Simon Property Group by 22,608.6% in the 4th quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after purchasing an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Simon Property Group by 17,222.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust’s stock valued at $82,063,000 after purchasing an additional 473,779 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Trading Up 0.3 %

Shares of Simon Property Group stock opened at $166.54 on Wednesday. The stock has a market capitalization of $54.34 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a 50 day moving average price of $175.08 and a two-hundred day moving average price of $174.56. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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 the consensus estimate 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 anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

About Simon Property Group

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.