Russell Investments Group Ltd. Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Russell Investments Group Ltd. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,493,987 shares of the real estate investment trust’s stock after purchasing an additional 64,802 shares during the period. Russell Investments Group Ltd.’s holdings in Simon Property Group were worth $257,241,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Aviva PLC grew its position in shares of Simon Property Group by 9.7% in the 4th quarter. Aviva PLC now owns 27,538 shares of the real estate investment trust’s stock worth $4,742,000 after buying an additional 2,428 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Simon Property Group in the fourth quarter valued at $30,293,000. Yoffe Investment Management LLC purchased a new position in Simon Property Group during the 4th quarter valued at $583,000. Pitcairn Co. raised its holdings in Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 55 shares in the last quarter. Finally, World Investment Advisors lifted its position in shares of Simon Property Group by 9.7% in the 4th quarter. World Investment Advisors now owns 3,878 shares of the real estate investment trust’s stock worth $668,000 after purchasing an additional 344 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock opened at $146.15 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14. The company’s 50-day moving average is $174.03 and its 200 day moving average is $174.26.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

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