Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Simon Property Group, Inc. (NYSE:SPG) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,637,529 shares of the real estate investment trust’s stock after buying an additional 64,418 shares during the period. Charles Schwab Investment Management Inc. owned about 1.11% of Simon Property Group worth $626,419,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SPG. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the third quarter valued at approximately $30,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $41,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Simon Property Group during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $183.30 on Wednesday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. 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 $59.81 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business has a 50 day simple moving average of $177.83 and a 200-day simple moving average of $174.25.

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

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.44.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by insiders.

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.