Generali Asset Management SPA SGR Has $1.70 Million Stake in Simon Property Group, Inc. $SPG

Key Points

• Generali Asset Management boosted its stake in Simon Property Group by 2,240.1% in the fourth quarter, ending with 9,173 shares worth about $1.7 million.
• Institutional interest in SPG remains high, with other investors also adding shares and institutions owning 93.01% of the company.
• Simon Property Group announced a $2 billion share repurchase plan, while Wall Street currently has an average Hold rating and a consensus price target of $200.14.

Generali Asset Management SPA SGR raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2,240.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,173 shares of the real estate investment trust's stock after purchasing an additional 8,781 shares during the quarter. Generali Asset Management SPA SGR's holdings in Simon Property Group were worth $1,698,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Simon Property Group by 15.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust's stock worth $12,521,000 after purchasing an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Simon Property Group during the third quarter worth about $3,598,000. National Pension Service lifted its holdings in Simon Property Group by 3.2% during the third quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust's stock worth $202,743,000 after acquiring an additional 33,758 shares in the last quarter. Aew Capital Management L P increased its holdings in Simon Property Group by 90.9% during the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust's stock worth $99,494,000 after purchasing an additional 252,510 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in Simon Property Group by 1.7% during the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust's stock worth $46,361,000 after purchasing an additional 4,177 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. Weiss Ratings upgraded shares of Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, May 4th. Piper Sandler reiterated an "overweight" rating and issued a $230.00 price target (up from $225.00) on shares of Simon Property Group in a research note on Tuesday, February 3rd. Citigroup upped their price target on shares of Simon Property Group from $185.00 to $189.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $184.00 to $185.00 and gave the company a "hold" rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley set a $205.00 price objective on shares of Simon Property Group in a report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $200.14.

Simon Property Group Stock Up 0.4%

Simon Property Group stock opened at $202.22 on Friday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. Simon Property Group, Inc. has a 52-week low of $155.44 and a 52-week high of $208.28. The firm has a 50 day moving average price of $195.35 and a two-hundred day moving average price of $189.16. The firm has a market cap of $65.71 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 6.65 and a beta of 1.33.

Simon Property Group announced that its board has approved a share repurchase plan on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.

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