Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 921,576 shares of the real estate investment trust’s stock after acquiring an additional 37,384 shares during the quarter. Wellington Management Group LLP owned 0.28% of Simon Property Group worth $158,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC increased its stake in 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 buying an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 2.5 %

SPG stock opened at $170.58 on Thursday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $55.66 billion, a P/E ratio of 23.50, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The company’s 50 day simple moving average is $175.03 and its 200-day simple moving average is $174.53.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $180.33.

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.