Assenagon Asset Management S.A. Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Assenagon Asset Management S.A. bought a new stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,837 shares of the real estate investment trust’s stock, valued at approximately $524,000.

A number of other large investors have also recently bought and sold shares of SPG. Cowa LLC purchased a new stake in Simon Property Group during the 1st quarter worth about $107,000. Legal & General Group Plc lifted its stake in shares of Simon Property Group by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 4,158,223 shares of the real estate investment trust’s stock worth $394,698,000 after purchasing an additional 23,156 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Simon Property Group by 18.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,773,319 shares of the real estate investment trust’s stock worth $358,161,000 after purchasing an additional 577,037 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Simon Property Group by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,243,238 shares of the real estate investment trust’s stock worth $426,681,000 after purchasing an additional 86,028 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Simon Property Group by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,886,087 shares of the real estate investment trust’s stock valued at $379,693,000 after purchasing an additional 152,373 shares during the period. Institutional investors and hedge funds own 83.89% of the company’s stock.

Simon Property Group Stock Down 0.3 %

Shares of NYSE:SPG opened at $125.57 on Tuesday. The firm has a market cap of $41.06 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.73 and a beta of 1.47. The company has a fifty day simple moving average of $118.38 and a 200 day simple moving average of $107.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 7.17. Simon Property Group, Inc. has a 12-month low of $86.02 and a 12-month high of $162.09.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date was Thursday, December 8th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is 120.20%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Simon Property Group in a report on Tuesday, October 18th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Citigroup increased their target price on shares of Simon Property Group from $100.00 to $120.00 in a research report on Wednesday, December 14th. Piper Sandler reduced their price target on shares of Simon Property Group from $130.00 to $123.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. Finally, StockNews.com assumed coverage on shares of Simon Property Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $128.17.

Simon Property Group Company Profile

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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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