Raiffeisen Bank International AG Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Raiffeisen Bank International AG purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,755 shares of the real estate investment trust's stock, valued at approximately $300,000.

Other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in Simon Property Group by 0.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,420 shares of the real estate investment trust's stock valued at $2,139,000 after purchasing an additional 71 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Simon Property Group by 23.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 508 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 95 shares during the period. Burney Co. raised its holdings in shares of Simon Property Group by 42.7% in the fourth quarter. Burney Co. now owns 2,251 shares of the real estate investment trust's stock valued at $388,000 after buying an additional 674 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Simon Property Group by 1.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,309 shares of the real estate investment trust's stock worth $1,431,000 after buying an additional 90 shares during the period. Finally, Carnegie Investment Counsel lifted its holdings in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust's stock worth $270,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of NYSE SPG traded down $4.69 during midday trading on Wednesday, reaching $158.25. The company's stock had a trading volume of 2,158,119 shares, compared to its average volume of 1,537,650. The company has a market cap of $51.66 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company has a 50 day moving average price of $158.13 and a 200 day moving average price of $170.81. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $3.56 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is 133.76%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus upped their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.67.

Simon Property Group Company 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.