Simon Property Group, Inc. (NYSE:SPG) Position Increased by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,741 shares of the real estate investment trust’s stock after acquiring an additional 600 shares during the period. Simon Property Group comprises approximately 1.6% of Biondo Investment Advisors LLC’s holdings, making the stock its 22nd largest position. Biondo Investment Advisors LLC’s holdings in Simon Property Group were worth $11,666,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Simon Property Group during the 4th quarter worth approximately $2,059,505,000. JPMorgan Chase & Co. grew its holdings in shares of Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock valued at $811,202,000 after buying an additional 246,630 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Simon Property Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after buying an additional 64,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after buying an additional 2,746,503 shares during the period. Finally, Boston Partners lifted its stake in Simon Property Group by 7.0% in the 4th quarter. Boston Partners now owns 2,504,500 shares of the real estate investment trust’s stock worth $431,304,000 after acquiring an additional 162,764 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SPG shares. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Price Performance

NYSE SPG opened at $164.21 on Friday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock’s 50-day moving average is $175.42 and its two-hundred day moving average is $174.37. The firm has a market cap of $53.58 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. On average, 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.12%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

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.