Robeco Institutional Asset Management B.V. Sells 44,178 Shares of Simon Property Group, Inc. (NYSE:SPG)

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 188,079 shares of the real estate investment trust’s stock after selling 44,178 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.06% of Simon Property Group worth $245,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Simon Property Group by 16.6% during the 3rd quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock valued at $38,903,000 after purchasing an additional 51,380 shares during the period. Nordea Investment Management AB lifted its position in shares of Simon Property Group by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after acquiring an additional 6,703 shares during the period. SG Americas Securities LLC lifted its position in shares of Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after acquiring an additional 17,552 shares during the period. Cornerstone Wealth Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $238,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Simon Property Group by 3.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 510,682 shares of the real estate investment trust’s stock worth $71,541,000 after acquiring an additional 15,251 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPG shares. Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Scotiabank raised their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Truist Financial increased their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Morgan Stanley increased their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $141.40.

Simon Property Group Trading Up 2.2 %

Shares of SPG opened at $147.88 on Friday. The stock has a fifty day moving average price of $147.40 and a two-hundred day moving average price of $142.02. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group, Inc. has a 52-week low of $100.17 and a 52-week high of $157.82. The company has a market cap of $48.20 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 8.58 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts predict that Simon Property Group, Inc. will post 12.87 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $2.00 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. This represents a $8.00 annualized dividend and a yield of 5.41%. Simon Property Group’s payout ratio is presently 99.36%.

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

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.