Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 64.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 685,493 shares of the real estate investment trust’s stock after acquiring an additional 267,661 shares during the quarter. American Century Companies Inc. owned about 0.21% of Simon Property Group worth $118,049,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SPG. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the fourth quarter worth approximately $28,000. WR Wealth Planners LLC raised its position in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth $30,000. TCTC Holdings LLC acquired a new position in Simon Property Group in the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Simon Property Group during the fourth quarter valued at about $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

NYSE:SPG opened at $162.12 on Monday. The firm has a 50-day moving average of $176.11 and a two-hundred day moving average of $174.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market cap of $52.90 billion, a P/E ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

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

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPG shares. Scotiabank set a $186.00 price objective on Simon Property Group in a research note on Friday, February 28th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group 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.