Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 160.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 763,371 shares of the real estate investment trust’s stock after buying an additional 469,855 shares during the period. Simon Property Group comprises about 1.3% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 26th biggest position. Duff & Phelps Investment Management Co. owned 0.23% of Simon Property Group worth $108,887,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Simon Property Group by 13,226.4% in the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at about $69,423,000. American Century Companies Inc. increased its position in Simon Property Group by 65.3% during the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after buying an additional 337,430 shares during the period. Sapient Capital LLC purchased a new stake in Simon Property Group in the fourth quarter valued at approximately $25,725,000. Finally, Schroder Investment Management Group grew its position in shares of Simon Property Group by 16.6% during the third quarter. Schroder Investment Management Group now owns 1,267,131 shares of the real estate investment trust’s stock worth $136,888,000 after acquiring an additional 180,318 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of a number of recent research reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial increased their price objective 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 upped their price target 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, Evercore ISI boosted their price objective on shares of 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Price Performance

Shares of NYSE SPG traded down $1.33 during midday trading on Tuesday, hitting $143.50. The company had a trading volume of 300,742 shares, compared to its average volume of 1,459,757. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The business has a 50-day simple moving average of $148.94 and a two-hundred day simple moving average of $137.49. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54.

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

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 paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.44%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group announced that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.