Nordea Investment Management AB raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 152,740 shares of the real estate investment trust’s stock after purchasing an additional 6,703 shares during the period. Nordea Investment Management AB’s holdings in Simon Property Group were worth $21,923,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. AMI Investment Management Inc. raised its stake in shares of Simon Property Group by 1.2% during the 1st quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock worth $2,312,000 after purchasing an additional 204 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Simon Property Group by 9.8% during 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 in the last quarter. Blair William & Co. IL raised its stake in shares of Simon Property Group by 56.8% during 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 purchasing an additional 20,022 shares during the period. Prudential PLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at $642,000. Finally, Dakota Wealth Management bought a new stake in shares of Simon Property Group during the 1st quarter valued at $390,000. Institutional investors and hedge funds own 84.73% of the company’s stock.
Simon Property Group Stock Down 0.3 %
NYSE SPG traded down $0.41 during mid-day trading on Thursday, reaching $154.99. The stock had a trading volume of 515,483 shares, compared to its average volume of 1,577,880. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. The stock has a market cap of $50.51 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 8.10 and a beta of 1.65. The company has a fifty day moving average price of $146.36 and a 200 day moving average price of $129.95. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77.
Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business posted $3.15 earnings per share. Simon Property Group’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Simon Property Group, Inc. will post 12.04 earnings per share for the current year.
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a dividend of $1.95 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Thursday, March 7th. Simon Property Group’s dividend payout ratio is currently 111.75%.
Simon Property Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
SPG has been the subject of several recent analyst reports. Truist Financial boosted their price objective on shares of Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley lifted their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Piper Sandler lifted their price objective on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group raised their target price on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $139.33.
Check Out Our Latest Stock Analysis on Simon Property Group
Simon Property Group Profile
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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Gateway Investment Advisers LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,391 shares of the real estate investment trust’s stock after selling 77 shares during the period. Gateway Investment Advisers LLC’s holdings in Simon Property Group were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $25,000. DT Investment Partners LLC lifted its holdings in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Selway Asset Management bought a new position in shares of Simon Property Group in the 3rd quarter valued at about $26,000. Financial Freedom LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $27,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. Institutional investors own 84.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on SPG. Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Piper Sandler increased their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Truist Financial increased their price target on shares of Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.33.
Check Out Our Latest Stock Report on SPG
Simon Property Group Stock Performance
Shares of NYSE:SPG opened at $155.47 on Thursday. The firm’s 50 day simple moving average is $146.36 and its 200-day simple moving average is $129.95. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $155.81. The firm has a market cap of $50.67 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 8.10 and a beta of 1.65.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $3.15 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.04 EPS for the current year.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is currently 111.75%.
Simon Property Group announced that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
About Simon Property Group
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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Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG – Free Report).
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Anchor Investment Management LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 325 shares of the real estate investment trust’s stock, valued at approximately $46,000.
Other large investors have also recently bought and sold shares of the company. Arlington Trust Co LLC bought a new stake in Simon Property Group in the third quarter valued at approximately $25,000. DT Investment Partners LLC raised its stake in Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 200 shares during the period. Selway Asset Management bought a new stake in Simon Property Group in the third quarter valued at approximately $26,000. Financial Freedom LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $27,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Simon Property Group during the second quarter worth approximately $27,000. 84.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on SPG shares. Piper Sandler increased their target price on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group increased their target price on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Evercore ISI increased their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their target price on Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.33.
View Our Latest Analysis on Simon Property Group
Simon Property Group Trading Up 1.4 %
Shares of NYSE:SPG opened at $154.10 on Wednesday. The company has a market capitalization of $50.22 billion, a P/E ratio of 22.08, a P/E/G ratio of 7.99 and a beta of 1.65. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $154.21. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The business’s 50 day simple moving average is $146.36 and its 200 day simple moving average is $129.95.
Simon Property Group (NYSE:SPG – Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.
Simon Property Group announced that its Board of Directors has authorized a share buyback plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Simon Property Group Company Profile
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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O Shaughnessy Asset Management LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,926 shares of the real estate investment trust’s stock after selling 37,364 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.06% of Simon Property Group worth $21,706,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of SPG. AMI Investment Management Inc. grew its stake 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 in the last quarter. Raymond James Trust N.A. grew its stake 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 in the last quarter. Blair William & Co. IL grew its stake 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 in the last quarter. Prudential PLC purchased a new position in Simon Property Group in the 1st quarter valued at approximately $642,000. Finally, Dakota Wealth Management purchased a new position in Simon Property Group in the 1st quarter valued at approximately $390,000. 84.73% of the stock is currently owned by hedge funds and other institutional investors.
Simon Property Group Stock Performance
NYSE SPG opened at $150.35 on Friday. Simon Property Group, Inc. has a 52-week low of $100.17 and a 52-week high of $153.11. The company has a debt-to-equity ratio of 7.54, a quick ratio of 0.94 and a current ratio of 1.77. The company has a market capitalization of $49.05 billion, a P/E ratio of 21.54, a P/E/G ratio of 7.22 and a beta of 1.65. The company has a fifty day moving average of $143.64 and a 200-day moving average of $125.56.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 earnings per share. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.19%. Simon Property Group’s payout ratio is currently 108.88%.
Simon Property Group announced that its board has authorized a stock repurchase program on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a research report on Wednesday, December 20th. Morgan Stanley lowered shares of Simon Property Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $132.00 to $143.00 in a research report on Thursday, December 21st. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. The Goldman Sachs Group boosted their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Truist Financial boosted their price target on shares of Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $137.75.
Read Our Latest Stock Analysis on SPG
Simon Property Group Profile
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.
See Also
Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG – Free Report).
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Before you consider Simon Property Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Simon Property Group wasn’t on the list.
While Simon Property Group currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know?