Robeco Institutional Asset Management B.V. Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Robeco Institutional Asset Management B.V. boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 43.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 343,702 shares of the real estate investment trust's stock after purchasing an additional 103,743 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Simon Property Group worth $57,082,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPG. Farther Finance Advisors LLC lifted its holdings in Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 789 shares during the period. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $295,000. PNC Financial Services Group Inc. grew its position in Simon Property Group by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock valued at $62,322,000 after buying an additional 25,987 shares during the period. USA Financial Formulas acquired a new stake in Simon Property Group during the first quarter valued at $717,000. Finally, Independent Advisor Alliance increased its holdings in Simon Property Group by 4.0% in the fourth quarter. Independent Advisor Alliance now owns 69,454 shares of the real estate investment trust's stock valued at $11,961,000 after buying an additional 2,661 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 2.1%

Shares of SPG stock opened at $160.70 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The firm has a market capitalization of $52.45 billion, a P/E ratio of 25.59, a PEG ratio of 8.78 and a beta of 1.47. The stock's fifty day moving average is $159.47 and its two-hundred day moving average is $167.03. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly 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. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $3.56 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.23%. Simon Property Group's dividend payout ratio is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPG. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus raised their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Mizuho dropped their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $179.44.

About Simon Property Group

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.

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