Nordea Investment Management AB Acquires 6,703 Shares of Simon Property Group, Inc. (NYSE:SPG)

Nordea Investment Management AB raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,740 shares of the real estate investment trust's stock after buying an additional 6,703 shares during the period. Nordea Investment Management AB's holdings in Simon Property Group were worth $21,923,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Simon Property Group during the third quarter worth approximately $25,000. DT Investment Partners LLC lifted its position in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $26,000. Financial Freedom LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $27,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $27,000. 84.73% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.3 %

Shares of Simon Property Group stock traded up $0.41 during midday trading on Thursday, reaching $155.81. 1,445,298 shares of the company's stock traded hands, compared to its average volume of 1,595,339. The company has a market cap of $50.78 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 8.10 and a beta of 1.65. The company's 50 day simple moving average is $146.58 and its 200 day simple moving average is $130.13. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.15 EPS. Equities analysts expect that Simon Property Group, Inc. will post 12.04 earnings per share for the current fiscal year.

Simon Property Group declared that its board has initiated a share repurchase plan on Thursday, February 8th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $1.95 dividend. The ex-dividend date is Thursday, March 7th. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.01%. Simon Property Group's dividend payout ratio (DPR) is presently 111.75%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, December 21st. Evercore ISI upped their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an "in-line" rating in a research report on Wednesday, February 28th. Morgan Stanley increased their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Monday, February 26th. StockNews.com upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating in a research report on Friday, January 19th. Finally, Piper Sandler increased their target price on shares of Simon Property Group from $148.00 to $172.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.33.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.