QRG Capital Management Inc. Has $32.13 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

QRG Capital Management Inc. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,547 shares of the real estate investment trust’s stock after acquiring an additional 7,680 shares during the period. QRG Capital Management Inc. owned about 0.06% of Simon Property Group worth $32,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Childress Capital Advisors LLC boosted its position in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in Simon Property Group by 9.9% in 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 buying an additional 59 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 61 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel raised its stake in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $183.99 on Thursday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The firm has a fifty day simple moving average of $176.75 and a 200 day simple moving average of $173.32. The company has a market capitalization of $60.03 billion, a PE ratio of 25.34, a P/E/G ratio of 10.10 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Wall Street Analyst Weigh In

SPG has been the subject of several analyst reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $178.44.

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.