Simon Property Group, Inc. (NYSE:SPG) Holdings Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 11.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,524 shares of the real estate investment trust’s stock after buying an additional 481 shares during the period. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $708,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. LPL Financial LLC lifted its holdings in shares of Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after buying an additional 51,380 shares during the period. Mariner LLC lifted its holdings in Simon Property Group by 9.3% in the 3rd quarter. Mariner LLC now owns 44,588 shares of the real estate investment trust’s stock valued at $4,817,000 after acquiring an additional 3,803 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Simon Property Group by 45.6% during the 3rd quarter. Federated Hermes Inc. now owns 16,433 shares of the real estate investment trust’s stock valued at $1,775,000 after purchasing an additional 5,150 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $972,000. Finally, Natixis Advisors L.P. grew its stake in shares of Simon Property Group by 28.2% in the 3rd quarter. Natixis Advisors L.P. now owns 154,986 shares of the real estate investment trust’s stock worth $16,744,000 after purchasing an additional 34,138 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPG. Scotiabank lifted their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Evercore ISI boosted their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Truist Financial boosted their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Argus raised their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.60.

Simon Property Group Price Performance

NYSE SPG opened at $150.45 on Tuesday. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $49.04 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 8.69 and a beta of 1.71. The company has a 50 day simple moving average of $146.93 and a 200-day simple moving average of $146.38. Simon Property Group, Inc. has a 52-week low of $102.11 and a 52-week high of $157.82.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $2.74 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.32%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is 101.91%.

Simon Property Group Profile

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.