Boston Partners Purchases 162,764 Shares of Simon Property Group, Inc. (NYSE:SPG)

Boston Partners boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,504,500 shares of the real estate investment trust’s stock after buying an additional 162,764 shares during the quarter. Boston Partners owned approximately 0.77% of Simon Property Group worth $431,304,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC boosted its stake in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $30,000. TCTC Holdings LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Stock Up 3.5 %

NYSE:SPG opened at $166.89 on Tuesday. The company has a market cap of $54.45 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock’s fifty day moving average price is $176.89 and its two-hundred day moving average price is $174.49. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.03%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.