ING Groep NV Purchases 2,887 Shares of Simon Property Group, Inc. (NYSE:SPG)

ING Groep NV lifted its position in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 369.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,668 shares of the real estate investment trust’s stock after buying an additional 2,887 shares during the quarter. ING Groep NV’s holdings in Simon Property Group were worth $523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Simon Property Group during the 3rd quarter valued at $33,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at about $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $41,000. Highlander Capital Management LLC raised its stake in shares of Simon Property Group by 183.5% during the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 200 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at $46,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Down 1.2 %

Shares of SPG stock opened at $146.17 on Thursday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The stock has a 50 day moving average of $147.55 and a 200 day moving average of $141.79. The stock has a market cap of $47.64 billion, a P/E ratio of 18.62, a P/E/G ratio of 8.78 and a beta of 1.68.

Simon Property Group (NYSE:SPGGet Free Report) last posted 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). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.87 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 5.47%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. Simon Property Group’s dividend payout ratio is presently 99.36%.

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

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent analyst 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. Scotiabank upped their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Evercore ISI raised their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Morgan Stanley boosted their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Truist Financial raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.40.

Get Our Latest Stock Report on Simon Property Group

Simon Property Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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