Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 550,177 shares of the real estate investment trust’s stock, valued at approximately $94,746,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPG. Norges Bank acquired a new stake in shares of Simon Property Group during the fourth quarter valued at about $2,059,505,000. Northern Trust Corp lifted its holdings in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after acquiring an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd purchased a new position in shares of Simon Property Group during the 4th quarter worth approximately $212,592,000. Capital World Investors acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $119,777,000. Finally, Deutsche Bank AG increased 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 valued at $618,383,000 after purchasing an additional 624,000 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Piper Sandler decreased their price target on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. JPMorgan Chase & Co. decreased their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $179.20.

Simon Property Group Stock Down 0.7%

Shares of NYSE SPG opened at $156.85 on Tuesday. The stock has a market cap of $51.20 billion, a P/E ratio of 21.60, a PEG ratio of 10.10 and a beta of 1.43. The business’s fifty day simple moving average is $157.58 and its 200-day simple moving average is $170.30. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.56 EPS. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. Simon Property Group’s payout ratio is 133.76%.

About Simon Property Group

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.