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

Raiffeisen Bank International AG bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,755 shares of the real estate investment trust's stock, valued at approximately $300,000.

Several other large investors have also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings 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 worth $2,139,000 after purchasing an additional 71 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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. increased its position 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 in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Simon Property Group by 1.1% during the 4th 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 raised its stake in shares of Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust's stock worth $270,000 after buying an additional 65 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank reduced their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus lifted 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. Finally, Piper Sandler cut their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $179.20.

Simon Property Group Price Performance

NYSE SPG traded down $1.14 during trading hours on Friday, hitting $156.81. 218,886 shares of the company's stock traded hands, compared to its average volume of 1,677,911. The company has a market capitalization of $51.19 billion, a PE ratio of 21.60, a PEG ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm's 50-day moving average is $157.90 and its 200-day moving average is $170.63.

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 for the quarter, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.56 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.36%. The ex-dividend date is Monday, June 9th. Simon Property Group's payout ratio is currently 133.76%.

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.