Natixis Advisors L.P. Purchases 9,942 Shares of Simon Property Group, Inc. (NYSE:SPG)

Natixis Advisors L.P. increased its position in Simon Property Group, Inc. (NYSE:SPG) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,928 shares of the real estate investment trust’s stock after buying an additional 9,942 shares during the quarter. Natixis Advisors L.P. owned 0.05% of Simon Property Group worth $23,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after buying an additional 51,380 shares during the period. Nordea Investment Management AB grew its stake in Simon Property Group by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after purchasing an additional 6,703 shares during the period. SG Americas Securities LLC raised its holdings in Simon Property Group by 121.5% in the fourth quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after purchasing an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Simon Property Group during the fourth quarter valued at $238,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Simon Property Group by 9.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after buying an additional 7,250 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 1.1 %

Shares of SPG stock opened at $142.93 on Monday. The stock has a fifty day simple moving average of $148.21 and a two-hundred day simple moving average of $138.41. Simon Property Group, Inc. has a 52-week low of $100.17 and a 52-week high of $157.82. The firm has a market capitalization of $46.58 billion, a PE ratio of 20.48, a PEG ratio of 7.50 and a beta of 1.68. 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 (NYSE:SPG) last issued its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $3.15 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has approved a share buyback program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPG shares. Morgan Stanley lifted 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 research report on Monday, February 26th. Truist Financial lifted their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI raised 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 research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

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.