Cohen & Steers Inc. Has $3.28 Billion Stake in Simon Property Group, Inc. (NYSE:SPG)

Cohen & Steers Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,973,119 shares of the real estate investment trust’s stock after selling 479,570 shares during the quarter. Simon Property Group comprises approximately 6.6% of Cohen & Steers Inc.’s holdings, making the stock its 4th largest position. Cohen & Steers Inc. owned 7.04% of Simon Property Group worth $3,277,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter worth $2,561,181,000. Northern Trust Corp boosted its stake in Simon Property Group by 1.9% during the third quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust’s stock valued at $512,624,000 after buying an additional 86,778 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after buying an additional 72,645 shares in the last quarter. Invesco Ltd. boosted its stake in Simon Property Group by 3.1% during the third quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock valued at $260,265,000 after buying an additional 71,751 shares in the last quarter. Finally, Boston Partners boosted its stake in Simon Property Group by 9.0% during the fourth quarter. Boston Partners now owns 2,228,580 shares of the real estate investment trust’s stock valued at $317,881,000 after buying an additional 183,702 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.6 %

Shares of Simon Property Group stock traded up $2.38 during trading on Wednesday, hitting $153.16. 1,814,794 shares of the stock traded hands, compared to its average volume of 1,478,843. The stock has a market cap of $49.92 billion, a P/E ratio of 19.51, a PEG ratio of 9.04 and a beta of 1.71. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $157.82. The company has a fifty day moving average price of $146.79 and a two-hundred day moving average price of $145.07.

Simon Property Group (NYSE:SPGGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.74 earnings per share. Equities research analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.22%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

Analysts Set New Price Targets

SPG has been the subject of several research reports. Scotiabank raised their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial lifted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, Evercore ISI lifted their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.60.

View Our Latest Stock Report on SPG

Simon Property Group Profile

(Free Report)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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