Robeco Institutional Asset Management B.V. lifted its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,567 shares of the real estate investment trust’s stock after purchasing an additional 24,708 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Simon Property Group were worth $24,013,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SPG. AMI Investment Management Inc. lifted its position in 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 acquiring an additional 204 shares during the period. Raymond James Trust N.A. increased 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 purchasing an additional 371 shares in the last quarter. Blair William & Co. IL grew its holdings in 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 buying an additional 20,022 shares during the last quarter. Prudential PLC acquired a new stake in Simon Property Group during the 1st quarter valued at $642,000. Finally, Dakota Wealth Management acquired a new stake in Simon Property Group during the 1st quarter valued at $390,000. 83.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on SPG shares. Citigroup raised their price objective on Simon Property Group from $100.00 to $120.00 in a report on Wednesday, December 14th. Piper Sandler raised their price objective on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Morgan Stanley raised their price objective on Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Simon Property Group from $115.00 to $130.00 in a research report on Tuesday, January 3rd. Finally, Mizuho dropped their target price on Simon Property Group from $130.00 to $116.00 in a research report on Monday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.58.
Simon Property Group Stock Performance
Simon Property Group (NYSE:SPG – Get Rating) last announced its earnings results on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($1.08). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. Simon Property Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.09 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.
Simon Property Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 6.59%. Simon Property Group’s payout ratio is presently 110.43%.
Simon Property Group Company Profile
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.
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