Kepler Cheuvreux Suisse SA Increases Position in Simon Property Group, Inc. $SPG

Key Points

• Kepler Cheuvreux Suisse SA boosted its stake in Simon Property Group by 346.7% in the fourth quarter, buying 92,004 additional shares and bringing its total holding to 118,541 shares worth about $21.94 million.
• Institutional ownership remains extremely high, with 93.01% of Simon Property Group shares held by hedge funds and other institutional investors. Several large firms, including Vanguard, State Street, and Wellington Management, also increased their positions.
• Analysts are mixed but generally cautious: the stock has a Hold consensus rating with a consensus price target of $200.14, while Simon Property Group also announced a $2 billion share buyback authorized in February.

Kepler Cheuvreux Suisse SA lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 346.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,541 shares of the real estate investment trust's stock after purchasing an additional 92,004 shares during the period. Simon Property Group comprises 1.3% of Kepler Cheuvreux Suisse SA's portfolio, making the stock its 25th largest holding. Kepler Cheuvreux Suisse SA's holdings in Simon Property Group were worth $21,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Simon Property Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after purchasing an additional 286,464 shares in the last quarter. State Street Corp grew its stake in Simon Property Group by 1.5% during the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock valued at $4,084,730,000 after acquiring an additional 312,995 shares in the last quarter. Capital World Investors grew its stake in Simon Property Group by 45.0% during the third quarter. Capital World Investors now owns 8,384,133 shares of the real estate investment trust's stock valued at $1,573,450,000 after acquiring an additional 2,600,508 shares in the last quarter. Wellington Management Group LLP grew its stake in Simon Property Group by 634.5% during the third quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust's stock valued at $1,383,145,000 after acquiring an additional 6,366,711 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Simon Property Group by 1.6% during the third quarter. Northern Trust Corp now owns 5,344,170 shares of the real estate investment trust's stock valued at $1,002,940,000 after acquiring an additional 82,550 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SPG. Morgan Stanley set a $205.00 price objective on shares of Simon Property Group in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Tuesday, January 20th. Evercore raised their price target on Simon Property Group from $188.00 to $198.00 and gave the company an "in-line" rating in a research note on Tuesday, February 3rd. Piper Sandler restated an "overweight" rating and set a $230.00 target price (up from $225.00) on shares of Simon Property Group in a report on Tuesday, February 3rd. Finally, Citigroup upped their price objective on Simon Property Group from $185.00 to $189.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $200.14.

Simon Property Group Trading Up 0.1%

Shares of SPG stock opened at $202.22 on Monday. The company 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. The stock has a 50 day simple moving average of $195.35 and a 200-day simple moving average of $189.16. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.90 and a quick ratio of 0.90. Simon Property Group, Inc. has a 1-year low of $155.44 and a 1-year high of $208.28.

Simon Property Group announced that its board has authorized a stock buyback 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Simon Property Group Profile

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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