State Street Corp Has $3.41 Billion Holdings in Simon Property Group, Inc. (NYSE:SPG)

State Street Corp increased its stake in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,332,871 shares of the real estate investment trust’s stock after purchasing an additional 1,478,289 shares during the period. State Street Corp owned approximately 6.49% of Simon Property Group worth $3,408,353,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brown Advisory Inc. raised its stake in shares of Simon Property Group by 3.2% during the fourth quarter. Brown Advisory Inc. now owns 2,226 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 69 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in shares of Simon Property Group by 1.3% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 5,982 shares of the real estate investment trust’s stock worth $956,000 after buying an additional 77 shares in the last quarter. Edmp Inc. lifted its stake in shares of Simon Property Group by 3.7% in the fourth quarter. Edmp Inc. now owns 2,212 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 79 shares in the last quarter. Minot Wealth Management LLC lifted its position in Simon Property Group by 4.1% during the fourth quarter. Minot Wealth Management LLC now owns 2,123 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 84 shares during the period. Finally, Dark Forest Capital Management LP raised its position in Simon Property Group by 33.5% in the third quarter. Dark Forest Capital Management LP now owns 367 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Shares of NYSE:SPG opened at $113.73 on Friday. The firm’s 50 day moving average price is $123.53 and its 200 day moving average price is $140.72. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.12 and a beta of 1.46. Simon Property Group, Inc. has a fifty-two week low of $103.46 and a fifty-two week high of $171.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 6.82.

Simon Property Group (NYSE:SPGGet Rating) last announced its earnings results on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($1.44). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Simon Property Group had a return on equity of 56.67% and a net margin of 43.12%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.48 earnings per share. On average, equities analysts anticipate that Simon Property Group, Inc. will post 11.72 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Wednesday, June 8th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s payout ratio is 97.35%.

A number of analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Simon Property Group from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, March 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Simon Property Group from $190.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Mizuho dropped their price objective on shares of Simon Property Group from $162.00 to $158.00 and set a “neutral” rating for the company in a research note on Tuesday, February 8th. Wells Fargo & Company dropped their price objective on shares of Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Simon Property Group from $180.00 to $165.00 in a research note on Tuesday, May 10th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $164.31.

About Simon Property Group (Get Rating)

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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