AQR Capital Management LLC Has $21.07 Million Position in Simon Property Group, Inc. (NYSE:SPG)

AQR Capital Management LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,400 shares of the real estate investment trust’s stock after selling 4,084 shares during the quarter. AQR Capital Management LLC’s holdings in Simon Property Group were worth $21,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPG. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after acquiring an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Simon Property Group by 16,795.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after purchasing an additional 421,560 shares in the last quarter. Castle Hook Partners LP raised its stake in shares of Simon Property Group by 182.0% during the 1st quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock worth $75,223,000 after purchasing an additional 310,207 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Simon Property Group by 5,778.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after buying an additional 261,430 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Simon Property Group by 121.6% in the first quarter. National Bank of Canada FI now owns 458,706 shares of the real estate investment trust’s stock worth $67,758,000 after buying an additional 251,679 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $169.02 on Tuesday. The company has a market cap of $55.11 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 9.32 and a beta of 1.74. The business has a 50 day moving average price of $160.99 and a 200 day moving average price of $152.90. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $170.87.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. This represents a $8.20 annualized dividend and a dividend yield of 4.85%. Simon Property Group’s payout ratio is presently 104.46%.

Analysts Set New Price Targets

A number of analysts have issued reports on SPG shares. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Truist Financial boosted their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $162.78.

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.