AIA Group Ltd increased its stake in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 224.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,864 shares of the real estate investment trust’s stock after buying an additional 8,205 shares during the period. AIA Group Ltd’s holdings in Simon Property Group were worth $1,065,000 as of its most recent SEC filing.
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Several other institutional investors also recently added to or reduced their stakes in the stock. AMI Investment Management Inc. boosted its holdings in shares of Simon Property Group by 1.2% in the 1st quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 204 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Simon Property Group by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after buying an additional 371 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Simon Property Group by 56.8% in the 1st quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after buying an additional 20,022 shares in the last quarter. Prudential PLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $642,000. Finally, Dakota Wealth Management bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $390,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.
Simon Property Group Price Performance
Simon Property Group stock opened at $125.45 on Wednesday. The business has a 50 day simple moving average of $119.10 and a 200-day simple moving average of $108.94. The stock has a market capitalization of $41.02 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.71 and a beta of 1.48. The company has a debt-to-equity ratio of 7.17, a current ratio of 0.98 and a quick ratio of 0.98. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $151.87.
Simon Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 5.74%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is presently 120.20%.
Analysts Set New Price Targets
SPG has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Simon Property Group from $130.00 to $145.00 in a report on Tuesday, January 17th. StockNews.com assumed coverage on shares of Simon Property Group in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wolfe Research began coverage on shares of Simon Property Group in a research note on Tuesday, October 18th. They issued a “peer perform” rating for the company. Evercore ISI reduced their price target on shares of Simon Property Group to $114.00 in a research report on Thursday, October 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Simon Property Group from $115.00 to $130.00 in a research report on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $130.00.
Simon Property Group Profile
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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