D.A. Davidson & CO. Grows Stake in Simon Property Group, Inc. (NYSE:SPG)

Posted by Defense World Staff on Jul 12th, 2023

D.A. Davidson & CO. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 25.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,569 shares of the real estate investment trust’s stock after purchasing an additional 4,555 shares during the period. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $2,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Cowa LLC acquired a new stake in shares of Simon Property Group in the first quarter worth approximately $107,000. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth $807,887,000. Deutsche Bank AG grew its holdings in shares of Simon Property Group by 110.7% during the fourth quarter. Deutsche Bank AG now owns 3,114,524 shares of the real estate investment trust’s stock worth $365,894,000 after buying an additional 1,636,053 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Simon Property Group by 527.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 804,952 shares of the real estate investment trust’s stock valued at $105,899,000 after buying an additional 676,627 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Simon Property Group by 2,251.5% in the fourth quarter. American Century Companies Inc. now owns 575,848 shares of the real estate investment trust’s stock worth $67,651,000 after buying an additional 551,359 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.7 %

Shares of SPG stock opened at $123.02 on Wednesday. Simon Property Group, Inc. has a 1-year low of $86.02 and a 1-year high of $133.08. The firm has a market cap of $40.23 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.88 and a beta of 1.52. The company has a 50-day moving average of $109.60 and a two-hundred day moving average of $114.57. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.43 and a quick ratio of 1.43.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were given a dividend of $1.85 per share. The ex-dividend date was Thursday, June 8th. This represents a $7.40 dividend on an annualized basis and a dividend yield of 6.02%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio (DPR) is presently 112.12%.

Analyst Ratings Changes

Several analysts recently issued reports on SPG shares. Stifel Nicolaus dropped their price objective on shares of Simon Property Group from $135.00 to $129.50 in a research note on Wednesday, May 3rd. StockNews.com assumed coverage on Simon Property Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group began coverage on Simon Property Group in a research note on Tuesday, March 21st. They issued a “buy” rating and a $150.00 target price for the company. Mizuho lowered their price target on shares of Simon Property Group from $116.00 to $106.00 in a research report on Friday, May 26th. Finally, Wolfe Research raised shares of Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 target price on the stock in a research note on Wednesday, July 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.14.

About Simon Property Group

(Free Report)

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.