M&G Investment Management Ltd. Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Posted by Defense World Staff on Apr 11th, 2023

M&G Investment Management Ltd. bought a new stake in Simon Property Group, Inc. (NYSE:SPG – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,257 shares of the real estate investment trust’s stock, valued at approximately $381,000.

A number of other institutional investors have also made changes to their positions in SPG. Parkside Financial Bank & Trust increased its position in Simon Property Group by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 638 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 93 shares in the last quarter. Riverview Trust Co increased its holdings in shares of Simon Property Group by 46.0% in the third quarter. Riverview Trust Co now owns 308 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Global Retirement Partners LLC raised its position in Simon Property Group by 27.9% in the 3rd quarter. Global Retirement Partners LLC now owns 449 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 98 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Simon Property Group by 0.7% in the 4th quarter. Flagship Harbor Advisors LLC now owns 13,996 shares of the real estate investment trust’s stock worth $1,644,000 after purchasing an additional 98 shares during the last quarter. Finally, Tiedemann Advisors LLC boosted its position in Simon Property Group by 1.9% in the 3rd quarter. Tiedemann Advisors LLC now owns 5,431 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 101 shares during the last quarter. 83.89% of the stock is owned by institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Karen N. Horn acquired 551 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The stock was acquired at an average cost of $109.33 per share, for a total transaction of $60,240.83. Following the transaction, the director now owns 34,079 shares of the company’s stock, valued at $3,725,857.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Down 0.2 %

Shares of NYSE:SPG opened at $109.56 on Tuesday. The company has a 50 day moving average price of $117.17 and a two-hundred day moving average price of $114.16. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $35.82 billion, a PE ratio of 16.80, a PEG ratio of 2.58 and a beta of 1.51. Simon Property Group, Inc. has a 52 week low of $86.02 and a 52 week high of $134.80.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($1.08). Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $3.09 EPS. Simon Property Group’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that Simon Property Group, Inc. will post 12.03 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were issued a $1.80 dividend. The ex-dividend date was Thursday, March 9th. This represents a $7.20 annualized dividend and a dividend yield of 6.57%. Simon Property Group’s dividend payout ratio (DPR) is currently 110.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. StockNews.com assumed coverage on Simon Property Group in a report on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler upped their target price on shares of Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Finally, The Goldman Sachs Group began coverage on shares of Simon Property Group in a research note on Tuesday, March 21st. They set a “buy” rating and a $150.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $131.42.

Simon Property Group Company Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.