Boston Partners Purchases 14,100 Shares of Simon Property Group, Inc. (NYSE:SPG)

Boston Partners boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,042,988 shares of the real estate investment trust’s stock after acquiring an additional 14,100 shares during the period. Boston Partners owned 0.62% of Simon Property Group worth $235,940,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new stake in Simon Property Group in the second 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. PSI Advisors LLC bought a new stake in Simon Property Group in the second quarter valued at approximately $29,000. Capital Advisors Ltd. LLC boosted its holdings in Simon Property Group by 483.3% in the second quarter. Capital Advisors Ltd. LLC now owns 280 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 232 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Simon Property Group in the second quarter valued at approximately $35,000. 84.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, CFO Brian J. Mcdade acquired 359 shares of the company’s stock in a transaction on Friday, September 29th. The shares were acquired at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the purchase, the chief financial officer now owns 25,741 shares in the company, valued at $2,810,659.79. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Brian J. Mcdade acquired 359 shares of the company’s stock in a transaction on Friday, September 29th. The shares were acquired at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the purchase, the chief financial officer now owns 25,741 shares in the company, valued at $2,810,659.79. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 580 shares of the company’s stock in a transaction on Friday, September 29th. The shares were bought at an average price of $110.04 per share, for a total transaction of $63,823.20. Following the completion of the purchase, the director now owns 49,727 shares in the company, valued at approximately $5,471,959.08. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPG. Stifel Nicolaus reduced their target price on Simon Property Group from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. dropped their price target on 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. Finally, Truist Financial dropped their price target on 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.90.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $121.06 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 7.40. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $133.08. The stock’s 50 day moving average is $110.87 and its 200-day moving average is $112.64. The firm has a market capitalization of $39.50 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 6.92 and a beta of 1.58.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 6.28%. The ex-dividend date is Thursday, December 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 112.59%.

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.