Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,209 shares of the real estate investment trust’s stock after purchasing an additional 233 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Simon Property Group were worth $600,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SPG. International Assets Investment Management LLC increased its position in shares of Simon Property Group by 13,226.4% during the 4th 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 during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Simon Property Group during the 3rd quarter valued at $69,423,000. American Century Companies Inc. increased its position in shares of Simon Property Group by 65.3% during the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after purchasing an additional 337,430 shares during the period. Sapient Capital LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at $25,725,000. Finally, Schroder Investment Management Group increased its position in shares of Simon Property Group by 16.6% during the 3rd 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 purchasing an additional 180,318 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Evercore ISI lifted their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Morgan Stanley lifted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $142.36 on Friday. The stock has a market cap of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The business has a fifty day simple moving average of $149.04 and a 200-day simple moving average of $137.02. 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, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82.

Simon Property Group (NYSE:SPG) last issued 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 business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $3.15 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.06 EPS 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 given a $1.95 dividend. 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. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Simon Property Group announced that its Board of Directors has approved a stock buyback program on Thursday, February 8th that allows the company to repurchase $2.00 billion in 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 programs are typically an indication that the company’s leadership believes its stock is 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.