National Pension Service Buys 21,253 Shares of Simon Property Group, Inc. (NYSE:SPG)

National Pension Service grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 796,232 shares of the real estate investment trust’s stock after acquiring an additional 21,253 shares during the period. National Pension Service’s holdings in Simon Property Group were worth $113,575,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DT Investment Partners LLC increased its holdings 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 purchasing an additional 200 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. Selway Asset Management bought a new stake in shares of Simon Property Group in the third quarter valued at about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Simon Property Group during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.0 %

Shares of SPG stock traded down $0.07 during trading hours on Wednesday, reaching $147.88. 1,378,951 shares of the company’s stock were exchanged, compared to its average volume of 1,492,443. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. The company has a market cap of $48.19 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 7.50 and a beta of 1.68. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The stock’s 50 day moving average is $148.08 and its 200-day moving average is $138.97.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.74 earnings per share. Analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group announced that its board has authorized a stock repurchase program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed 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 5.41%. The ex-dividend date is Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

Wall Street Analyst Weigh In

SPG has been the subject of several recent research reports. Evercore ISI boosted 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 report on Wednesday, February 28th. Truist Financial boosted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note 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, Morgan Stanley boosted their price target on 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

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.