OFI Invest Asset Management Purchases Shares of 3,530 Simon Property Group, Inc. (NYSE:SPG)

OFI Invest Asset Management purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,530 shares of the real estate investment trust’s stock, valued at approximately $587,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Simon Property Group during the 3rd quarter valued at approximately $834,000. First Hawaiian Bank raised its position in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc raised its position in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Simon Property Group during the 4th quarter valued at approximately $416,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $170.97 on Monday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. 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 market cap of $55.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business has a 50 day moving average of $178.03 and a 200 day moving average of $174.60.

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 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 forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.91%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SPG. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $178.44.

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.