Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 320.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 420 shares of the real estate investment trust’s stock after acquiring an additional 320 shares during the period. Webster Bank N. A.’s holdings in Simon Property Group were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SPG. LPL Financial LLC boosted its position in shares of Simon Property Group by 16.6% during the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after buying an additional 51,380 shares during the period. Nordea Investment Management AB lifted its holdings in Simon Property Group by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock worth $21,923,000 after purchasing an additional 6,703 shares during the period. SG Americas Securities LLC grew its position in Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock valued at $4,565,000 after buying an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth about $238,000. Finally, Invesco Ltd. boosted its holdings in shares of Simon Property Group by 3.1% in the third quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock valued at $260,265,000 after acquiring an additional 71,751 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPG shares. The Goldman Sachs Group upped their target price on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Morgan Stanley raised their target price 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. Truist Financial lifted their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, Evercore ISI lifted their price objective on shares of 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $140.22.

Read Our Latest Report on Simon Property Group

Simon Property Group Price Performance

NYSE SPG opened at $150.00 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. The company has a market cap of $48.89 billion, a PE ratio of 21.49, a PEG ratio of 8.05 and a beta of 1.65. The stock’s 50-day moving average price is $148.31 and its two-hundred day moving average price is $132.64.

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

Simon Property Group announced that its Board of Directors has initiated a stock repurchase 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 purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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 5.20%. The ex-dividend date 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%.

About Simon Property Group

(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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