Natixis Advisors L.P. Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Natixis Advisors L.P. boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,928 shares of the real estate investment trust's stock after acquiring an additional 9,942 shares during the quarter. Natixis Advisors L.P. owned about 0.05% of Simon Property Group worth $23,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC grew its stake in shares of Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 200 shares in the last quarter. Selway Asset Management purchased a new position in Simon Property Group in the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Simon Property Group in the third quarter valued at $33,000. BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group in the fourth quarter valued at $34,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Simon Property Group in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE:SPG traded up $1.56 during trading hours on Monday, reaching $144.49. 1,596,463 shares of the company traded hands, compared to its average volume of 1,479,981. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The firm's 50-day moving average is $148.11 and its 200-day moving average is $138.68. 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 stock has a market cap of $47.09 billion, a P/E ratio of 20.70, a P/E/G ratio of 7.50 and a beta of 1.68.

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

Simon Property Group declared that its Board of Directors has authorized a stock repurchase program 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 purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often 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, June 28th. Investors of record on Friday, June 7th will be given a $2.00 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a dividend yield of 5.54%. Simon Property Group's dividend payout ratio (DPR) is 111.75%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SPG shares. StockNews.com raised Simon Property Group from a "hold" rating to a "buy" rating in a report on Thursday, April 18th. Evercore ISI upped their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an "in-line" rating in a research note on Wednesday, February 28th. Morgan Stanley increased their target price 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. Finally, Truist Financial increased their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a "hold" rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and a consensus price target of $140.22.

Simon Property Group Company 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.