Van Lanschot Kempen Investment Management N.V. Buys 78,555 Shares of Simon Property Group, Inc. (NYSE:SPG)

Van Lanschot Kempen Investment Management N.V. boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 70.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,299 shares of the real estate investment trust’s stock after acquiring an additional 78,555 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.06% of Simon Property Group worth $21,196,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in Simon Property Group by 2.7% in the 1st quarter. Franklin Resources Inc. now owns 274,038 shares of the real estate investment trust’s stock valued at $30,684,000 after buying an additional 7,112 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in Simon Property Group in the 1st quarter valued at $259,000. Smead Capital Management Inc. increased its stake in Simon Property Group by 3.1% in the 1st quarter. Smead Capital Management Inc. now owns 2,457,290 shares of the real estate investment trust’s stock valued at $275,143,000 after buying an additional 73,263 shares during the last quarter. Norinchukin Bank The increased its stake in Simon Property Group by 10.7% in the 1st quarter. Norinchukin Bank The now owns 37,835 shares of the real estate investment trust’s stock valued at $4,236,000 after buying an additional 3,661 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its stake in Simon Property Group by 12.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,600 shares of the real estate investment trust’s stock valued at $2,195,000 after buying an additional 2,100 shares during the last quarter. 84.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $130.00 to $139.00 in a research note on Wednesday, July 12th. JPMorgan Chase & Co. lowered their price target on shares of Simon Property Group from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 29th. Truist Financial lowered their price objective on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Tuesday, August 29th. Mizuho lowered their price objective on shares of Simon Property Group from $116.00 to $106.00 in a research note on Friday, May 26th. Finally, StockNews.com began coverage on shares of Simon Property Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.36.

Simon Property Group Stock Performance

Simon Property Group stock traded up $1.42 during trading hours on Monday, hitting $114.91. The company had a trading volume of 1,306,000 shares, compared to its average volume of 1,497,408. The firm has a market cap of $37.60 billion, a PE ratio of 17.46, a PEG ratio of 4.73 and a beta of 1.54. The company has a debt-to-equity ratio of 7.67, a current ratio of 1.02 and a quick ratio of 1.02. Simon Property Group, Inc. has a one year low of $86.02 and a one year high of $133.08. The firm has a 50-day moving average of $118.25 and a 200 day moving average of $113.35.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $1.90 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.60 annualized dividend and a yield of 6.61%. The ex-dividend date is Thursday, September 7th. Simon Property Group’s dividend payout ratio is currently 112.46%.

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.