Russell Investments Group Ltd. Has $236.15 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Russell Investments Group Ltd. grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,653,052 shares of the real estate investment trust’s stock after buying an additional 114,653 shares during the period. Simon Property Group makes up approximately 0.4% of Russell Investments Group Ltd.’s holdings, making the stock its 28th biggest position. Russell Investments Group Ltd. owned about 0.51% of Simon Property Group worth $236,153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. International Assets Investment Management LLC lifted its position in shares of 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 worth $131,312,000 after buying an additional 913,678 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Simon Property Group in the third quarter worth about $69,423,000. American Century Companies Inc. increased its stake 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 valued at $92,278,000 after acquiring an additional 337,430 shares during the period. Sapient Capital LLC bought a new position in Simon Property Group during the fourth quarter valued at about $25,725,000. Finally, Schroder Investment Management Group increased its stake in 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 valued at $136,888,000 after acquiring an additional 180,318 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. 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. Evercore ISI boosted their price target on 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. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. 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.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Price Performance

Shares of SPG traded down $0.37 on Friday, hitting $142.36. The company’s stock had a trading volume of 1,026,159 shares, compared to its average volume of 1,112,382. The company has a market capitalization of $46.40 billion, a PE ratio of 20.40, a PEG ratio of 7.49 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a 50 day moving average price of $149.04 and a 200 day moving average price of $136.81.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $1.95 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s payout ratio is presently 111.75%.

Simon Property Group declared that its Board of Directors has approved a stock repurchase program 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 repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.