Russell Investments Group Ltd. Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Russell Investments Group Ltd. lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,653,052 shares of the real estate investment trust's stock after purchasing an additional 114,653 shares during the period. Simon Property Group accounts for about 0.4% of Russell Investments Group Ltd.'s portfolio, making the stock its 28th biggest position. Russell Investments Group Ltd. owned 0.51% of Simon Property Group worth $236,153,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DT Investment Partners LLC raised its stake in Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust's stock worth $25,000 after buying an additional 200 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of Simon Property Group in the third quarter worth approximately $25,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $34,000. Selway Asset Management purchased a new stake in shares of Simon Property Group in the third quarter worth approximately $26,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $0.37 during trading hours on Friday, reaching $142.36. The company had a trading volume of 1,026,159 shares, compared to its average volume of 1,112,382. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The business has a fifty day simple moving average of $149.04 and a 200 day simple moving average of $137.02. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.49 and a beta of 1.65.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $3.15 earnings per share. Simon Property Group's revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 8th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date was Thursday, March 7th. This is an increase from Simon Property Group's previous quarterly dividend of $1.90. Simon Property Group's dividend payout ratio (DPR) is 111.75%.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Morgan Stanley increased their price objective on Simon Property Group from $143.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Monday, February 26th. Truist Financial increased their price target on Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a research report on Friday, March 22nd. StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 18th. Finally, Evercore ISI increased their price target on 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $140.22.

About Simon Property Group

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.