Natixis Advisors LLC Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

by · The Cerbat Gem

Natixis Advisors LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 196,221 shares of the real estate investment trust’s stock after selling 1,027 shares during the quarter. Natixis Advisors LLC owned about 0.06% of Simon Property Group worth $32,588,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Northern Trust Corp increased its stake in Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after purchasing an additional 1,718,398 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after buying an additional 542,511 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Simon Property Group by 2.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,653,424 shares of the real estate investment trust’s stock valued at $629,158,000 after acquiring an additional 81,359 shares in the last quarter. Deutsche Bank AG raised its holdings in Simon Property Group by 21.0% in the 4th quarter. Deutsche Bank AG now owns 3,590,867 shares of the real estate investment trust’s stock worth $618,383,000 after acquiring an additional 624,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Simon Property Group by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,411,119 shares of the real estate investment trust’s stock valued at $587,429,000 after acquiring an additional 219,823 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 522 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $83,149.38. Following the acquisition, the director owned 58,195 shares of the company’s stock, valued at approximately $9,269,881.55. This represents a 0.91% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry C. Glasscock purchased 396 shares of the business’s stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the purchase, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,386 shares of company stock valued at $380,066. 8.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price target for the company. Scotiabank boosted their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 17th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $182.73.

View Our Latest Stock Analysis on SPG

Simon Property Group Trading Down 1.0%

Shares of SPG stock opened at $163.82 on Friday. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $53.47 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 11.17 and a beta of 1.43. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The firm has a fifty day moving average price of $161.81 and a 200-day moving average price of $165.26.

Simon Property Group (NYSE:SPG – Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. Simon Property Group’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.56 earnings per share. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.1%. Simon Property Group’s payout ratio is currently 133.76%.

Simon Property Group Company Profile

(Free Report)

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.

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