Swedbank AB Increases Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Swedbank AB increased its stake in Simon Property Group by 30.7% in Q4 to 180,890 shares (about $33.5M), while overall hedge fund and institutional ownership sits around 93.0%.
• Simon slightly beat quarterly EPS ($3.49 vs. $3.47) and reported revenue of $1.79B (up 13.2% year‑over‑year), and its board authorized a $2.00 billion share buyback (roughly 3.1% of shares).
• Analysts hold a consensus “Hold” rating with an average target of $200.14 (five Buys vs. ten Holds), though several firms have recently raised price targets, including Piper Sandler's $230 overweight call.

Swedbank AB lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,890 shares of the real estate investment trust's stock after buying an additional 42,512 shares during the quarter. Swedbank AB owned about 0.06% of Simon Property Group worth $33,485,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SPG. Mirae Asset Global Investments Co. Ltd. lifted its stake in Simon Property Group by 15.5% in the 3rd 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 purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $3,598,000. National Pension Service lifted its stake in Simon Property Group by 3.2% in the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust's stock worth $202,743,000 after purchasing an additional 33,758 shares in the last quarter. Aew Capital Management L P lifted its stake in Simon Property Group by 90.9% in 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. lifted its stake in Simon Property Group by 1.7% in 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. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Evercore increased their price target on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an "in-line" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $198.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. UBS Group increased their target price on shares of Simon Property Group from $180.00 to $189.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Piper Sandler reaffirmed 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, Weiss Ratings raised shares of Simon Property Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of "Hold" and a consensus target price of $200.14.

Simon Property Group Trading Down 1.9%

NYSE:SPG opened at $201.60 on Friday. The company has a 50-day moving average price of $195.35 and a 200-day moving average price of $189.16. Simon Property Group, Inc. has a 12 month low of $155.44 and a 12 month high of $208.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. The stock has a market cap of $65.51 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 6.76 and a beta of 1.33.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company posted $3.68 EPS. Simon Property Group's revenue was up 13.2% on a year-over-year basis. Equities analysts predict that Simon Property Group, Inc. will post 13.19 EPS for the current year.

Simon Property Group announced that its board has authorized a share repurchase plan on Thursday, February 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Simon Property Group Company 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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