Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Increased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,292 shares of the real estate investment trust’s stock after buying an additional 3,728 shares during the quarter. NEOS Investment Management LLC’s holdings in Simon Property Group were worth $2,806,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC boosted its holdings in Simon Property Group by 8.8% in the third quarter. Townsquare Capital LLC now owns 27,125 shares of the real estate investment trust’s stock worth $4,585,000 after purchasing an additional 2,191 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Simon Property Group by 477.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock worth $16,978,000 after buying an additional 83,049 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Simon Property Group during the 3rd quarter valued at about $376,000. CreativeOne Wealth LLC raised its stake in Simon Property Group by 128.0% during the third quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock worth $1,277,000 after acquiring an additional 4,241 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Simon Property Group by 18.0% during the third quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust’s stock worth $9,028,000 after acquiring an additional 8,132 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $164.21 on Friday. The firm has a market capitalization of $53.58 billion, a PE ratio of 22.62, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a 50-day moving average price of $175.42 and a 200 day moving average price of $174.37. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.12%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $180.33.

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.