Lincoln National Corp Raises Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Lincoln National Corp increased its position in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 11.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,341 shares of the real estate investment trust’s stock after buying an additional 1,556 shares during the quarter. Lincoln National Corp’s holdings in Simon Property Group were worth $1,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cowa LLC purchased a new position in Simon Property Group during the 1st quarter valued at $107,000. Daiwa Securities Group Inc. increased its position in Simon Property Group by 7.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,693,803 shares of the real estate investment trust’s stock valued at $421,269,000 after purchasing an additional 333,220 shares during the period. Legal & General Group Plc increased its position in 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 valued at $394,698,000 after purchasing an additional 23,156 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 valued at $358,161,000 after buying an additional 577,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Simon Property Group by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,243,238 shares of the real estate investment trust’s stock valued at $426,681,000 after buying an additional 86,028 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $125.45 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $151.87. The business has a 50-day simple moving average of $119.10 and a two-hundred day simple moving average of $108.94. 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 $41.02 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.71 and a beta of 1.48.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were given a $1.80 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. The ex-dividend date was Thursday, December 8th. This represents a $7.20 dividend on an annualized basis and a yield of 5.74%. Simon Property Group’s payout ratio is 120.20%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SPG shares. Wolfe Research started coverage on shares of Simon Property Group in a report on Tuesday, October 18th. They set a “peer perform” rating on the stock. Piper Sandler boosted their target price on shares of Simon Property Group from $130.00 to $145.00 in a report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Simon Property Group from $115.00 to $130.00 in a report on Tuesday, January 3rd. Evercore ISI dropped their target price on shares of Simon Property Group to $114.00 in a report on Thursday, October 20th. Finally, StockNews.com assumed coverage on shares of Simon Property Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $130.00.

Simon Property Group 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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