JPMorgan Chase & Co. Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

JPMorgan Chase & Co. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,710,538 shares of the real estate investment trust’s stock after buying an additional 246,630 shares during the quarter. JPMorgan Chase & Co.’s holdings in Simon Property Group were worth $811,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of analysts have commented on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $180.33.

Simon Property Group Stock Down 1.0 %

Shares of SPG stock opened at $164.21 on Friday. The stock has a market cap of $53.58 billion, a P/E ratio of 22.62, a PEG ratio of 10.10 and a beta of 1.78. The company’s fifty day simple moving average is $175.42 and its two-hundred day simple moving average is $174.37. 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, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

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

Simon Property Group Dividend Announcement

The firm 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 dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were bought 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 directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

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.