Boston Partners Purchases 183,702 Shares of Simon Property Group, Inc. (NYSE:SPG)

Boston Partners lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,228,580 shares of the real estate investment trust's stock after purchasing an additional 183,702 shares during the quarter. Boston Partners owned 0.68% of Simon Property Group worth $317,881,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Ieq Capital LLC increased its holdings in Simon Property Group by 8.6% during the 4th quarter. Ieq Capital LLC now owns 11,683 shares of the real estate investment trust's stock worth $1,666,000 after purchasing an additional 926 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Simon Property Group by 5.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,501 shares of the real estate investment trust's stock worth $3,495,000 after buying an additional 1,233 shares during the period. AlphaStar Capital Management LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $209,000. QRG Capital Management Inc. raised its position in Simon Property Group by 7.8% in the 4th quarter. QRG Capital Management Inc. now owns 160,427 shares of the real estate investment trust's stock valued at $22,883,000 after buying an additional 11,591 shares during the last quarter. Finally, AGF Management Ltd. raised its position in Simon Property Group by 0.7% in the 4th quarter. AGF Management Ltd. now owns 43,771 shares of the real estate investment trust's stock valued at $6,243,000 after buying an additional 292 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPG. Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a "hold" rating in a research report on Friday, March 22nd. Morgan Stanley raised their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a report on Thursday, April 18th. Finally, Evercore ISI boosted their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.22.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $0.76 during midday trading on Monday, hitting $146.96. 1,381,641 shares of the company's stock were exchanged, compared to its average volume of 1,488,638. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The company's 50 day moving average price is $148.00 and its 200 day moving average price is $139.88. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The firm has a market capitalization of $47.89 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 7.65 and a beta of 1.68.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. Simon Property Group's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 earnings per share. As a group, analysts predict that Simon Property Group, Inc. will post 12.87 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $2.00 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Friday, June 7th. Simon Property Group's dividend payout ratio is currently 99.36%.

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

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.

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