Allspring Global Investments Holdings LLC Purchases 10,713 Shares of Simon Property Group, Inc. (NYSE:SPG)

Allspring Global Investments Holdings LLC increased its position in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,463 shares of the real estate investment trust’s stock after purchasing an additional 10,713 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Simon Property Group worth $26,158,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SPG. AMI Investment Management Inc. raised its position in Simon Property Group by 1.2% in the 1st quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 204 shares during the last quarter. Raymond James Trust N.A. raised its position in Simon Property Group by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after buying an additional 371 shares during the last quarter. Blair William & Co. IL raised its position in Simon Property Group by 56.8% in the 1st quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after buying an additional 20,022 shares during the last quarter. Prudential PLC purchased a new stake in Simon Property Group in the 1st quarter valued at $642,000. Finally, Dakota Wealth Management purchased a new stake in Simon Property Group in the 1st quarter valued at $390,000. 83.89% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 1.2 %

Shares of SPG opened at $116.85 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $164.24. The business has a 50-day moving average of $117.54 and a 200 day moving average of $107.05. The company has a debt-to-equity ratio of 7.17, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $38.20 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.58 and a beta of 1.47.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were paid a $1.80 dividend. The ex-dividend date was Thursday, December 8th. This represents a $7.20 annualized dividend and a yield of 6.16%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio (DPR) is currently 120.20%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPG. Wolfe Research began coverage on Simon Property Group in a research report on Tuesday, October 18th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on Simon Property Group from $115.00 to $130.00 in a research report on Tuesday, January 3rd. Piper Sandler decreased their target price on Simon Property Group from $130.00 to $123.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. StockNews.com began coverage on Simon Property Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Citigroup raised their target price on Simon Property Group from $100.00 to $120.00 in a research report on Wednesday, December 14th. Seven 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.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $128.17.

About Simon Property Group

(Get Rating)

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.

Further Reading

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

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