Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 923.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,501 shares of the real estate investment trust’s stock after acquiring an additional 21,205 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Simon Property Group were worth $2,672,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SPG. Checchi Capital Advisers LLC raised its stake in shares of Simon Property Group by 3.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,456 shares of the real estate investment trust’s stock worth $279,000 after buying an additional 92 shares in the last quarter. Alpha Cubed Investments LLC raised its position in shares of Simon Property Group by 3.0% during the first quarter. Alpha Cubed Investments LLC now owns 3,466 shares of the real estate investment trust’s stock worth $394,000 after purchasing an additional 100 shares during the period. SMH Capital Advisors Inc. raised its position in shares of Simon Property Group by 2.6% during the first quarter. SMH Capital Advisors Inc. now owns 3,998 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 102 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Simon Property Group by 1.4% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,991 shares of the real estate investment trust’s stock worth $909,000 after purchasing an additional 111 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Simon Property Group by 13.1% during the fourth quarter. Berman Capital Advisors LLC now owns 1,046 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 121 shares during the period. Institutional investors own 86.82% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. UBS Group started coverage on Simon Property Group in a research report on Thursday, June 3rd. They set a “neutral” rating and a $135.00 target price on the stock. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $112.00 to $130.00 in a report on Friday, April 16th. They noted that the move was a valuation call. Piper Sandler boosted their target price on Simon Property Group from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 21st. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $112.00 to $128.00 in a research note on Monday, April 26th. Finally, Citigroup initiated coverage on Simon Property Group in a research note on Tuesday, February 23rd. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $116.44.

In related news, Director J Albert Smith, Jr. bought 385 shares of the company’s stock in a transaction dated Friday, April 23rd. The stock was acquired at an average cost of $116.37 per share, with a total value of $44,802.45. Following the acquisition, the director now owns 8,807 shares in the company, valued at approximately $1,024,870.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.49% of the company’s stock.

Simon Property Group stock opened at $134.54 on Friday. The firm has a 50 day moving average price of $122.57. The company has a debt-to-equity ratio of 7.53, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $44.20 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53. Simon Property Group, Inc. has a 12 month low of $59.03 and a 12 month high of $136.70.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, May 10th. The real estate investment trust reported $1.36 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.89). Simon Property Group had a net margin of 24.94% and a return on equity of 40.13%. The firm had revenue of $1.24 billion during the quarter. During the same period last year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 9.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 23rd. Stockholders of record on Friday, April 9th were issued a $1.30 dividend. The ex-dividend date was Thursday, April 8th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.87%. Simon Property Group’s payout ratio is presently 57.08%.

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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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