Resolution Capital Ltd Purchases New Shares in Simon Property Group, Inc. (NYSE:SPG)

Resolution Capital Ltd bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,234,490 shares of the real estate investment trust’s stock, valued at approximately $212,592,000. Simon Property Group comprises 3.8% of Resolution Capital Ltd’s investment portfolio, making the stock its 9th largest position. Resolution Capital Ltd owned 0.38% of Simon Property Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pitcairn Co. raised its stake in shares of Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 55 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 57 shares during the period. Childress Capital Advisors LLC raised its position in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after acquiring an additional 60 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $161.04 on Thursday. The stock has a market cap of $52.54 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock has a 50-day moving average of $158.11 and a 200-day moving average of $171.00. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.56 earnings per share. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Ratings Changes

Several analysts have weighed in on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.67.

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.