ProShare Advisors LLC Buys 3,787 Shares of Simon Property Group, Inc. (NYSE:SPG)

ProShare Advisors LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,758 shares of the real estate investment trust’s stock after purchasing an additional 3,787 shares during the quarter. ProShare Advisors LLC’s holdings in Simon Property Group were worth $10,291,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPG. Quantinno Capital Management LP raised its position in shares of Simon Property Group by 21.5% in the 4th quarter. Quantinno Capital Management LP now owns 58,576 shares of the real estate investment trust’s stock valued at $10,087,000 after purchasing an additional 10,354 shares during the last quarter. Pathstone Holdings LLC increased its stake in Simon Property Group by 2.2% during the 4th quarter. Pathstone Holdings LLC now owns 44,668 shares of the real estate investment trust’s stock valued at $7,692,000 after purchasing an additional 962 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Simon Property Group in the fourth quarter worth $780,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Simon Property Group by 2.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 83,470 shares of the real estate investment trust’s stock worth $14,358,000 after buying an additional 1,813 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth $7,873,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

NYSE:SPG opened at $165.15 on Friday. The company has a 50 day moving average price of $158.09 and a 200-day moving average price of $170.88. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The firm has a market cap of $53.91 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. 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 released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $3.56 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. Simon Property Group’s payout ratio is 133.76%.

Wall Street Analyst Weigh In

SPG has been the topic of a number of research reports. Scotiabank cut their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $179.67.

Simon Property Group Profile

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.