Jupiter Asset Management Ltd. Purchases 10,906 Shares of Simon Property Group, Inc. (NYSE:SPG)

Jupiter Asset Management Ltd. increased its position in Simon Property Group, Inc. (NYSE:SPG) by 476.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,193 shares of the real estate investment trust’s stock after purchasing an additional 10,906 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Simon Property Group were worth $1,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Simon Property Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 47,181,855 shares of the real estate investment trust’s stock worth $6,156,288,000 after purchasing an additional 567,034 shares during the period. State Street Corp lifted its position in Simon Property Group by 1.4% in the second quarter. State Street Corp now owns 19,443,377 shares of the real estate investment trust’s stock worth $2,536,972,000 after purchasing an additional 260,822 shares during the period. Nuveen Asset Management LLC lifted its position in Simon Property Group by 4.6% in the second quarter. Nuveen Asset Management LLC now owns 7,104,445 shares of the real estate investment trust’s stock worth $926,988,000 after purchasing an additional 309,295 shares during the period. Geode Capital Management LLC lifted its position in Simon Property Group by 3.4% in the second quarter. Geode Capital Management LLC now owns 6,588,639 shares of the real estate investment trust’s stock worth $858,577,000 after purchasing an additional 216,294 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Simon Property Group by 5.9% in the third quarter. Daiwa Securities Group Inc. now owns 4,526,017 shares of the real estate investment trust’s stock worth $588,247,000 after purchasing an additional 250,209 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Shares of SPG stock opened at $155.70 on Friday. The stock has a 50-day moving average price of $159.25 and a 200 day moving average price of $142.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 6.68. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.43 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $90.56 and a 12 month high of $171.12.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Sunday, October 31st. The real estate investment trust reported $1.77 EPS for the quarter, missing the Zacks’ consensus estimate of $2.47 by ($0.70). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.20 billion. Simon Property Group had a return on equity of 53.12% and a net margin of 41.00%. Simon Property Group’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. Sell-side analysts predict that Simon Property Group, Inc. will post 11.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 10th were given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 106.97%.

A number of research analysts have issued reports on the company. Mizuho lifted their price objective on Simon Property Group from $133.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, November 2nd. Argus lifted their price objective on Simon Property Group from $142.00 to $180.00 and gave the company a “buy” rating in a report on Friday, November 26th. Piper Sandler lifted their price objective on Simon Property Group from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, November 24th. Morgan Stanley lifted their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 10th. Finally, TheStreet raised Simon Property Group from a “c+” rating to a “b” rating in a report on Thursday, September 30th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Buy” and an average price target of $158.44.

Simon Property Group Company Profile

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

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

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