Natixis Advisors L.P. Has $16.28 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Posted by Defense World Staff on Apr 12th, 2023

Natixis Advisors L.P. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,570 shares of the real estate investment trust’s stock after acquiring an additional 43,444 shares during the period. Natixis Advisors L.P.’s holdings in Simon Property Group were worth $16,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Simon Property Group by 5.6% during the third quarter. BlackRock Inc. now owns 35,534,798 shares of the real estate investment trust’s stock worth $3,189,248,000 after acquiring an additional 1,886,532 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Simon Property Group by 4.9% during the third quarter. Cohen & Steers Inc. now owns 24,414,736 shares of the real estate investment trust’s stock worth $2,191,087,000 after acquiring an additional 1,135,612 shares during the period. Cowa LLC acquired a new stake in Simon Property Group in the 1st quarter valued at $107,000. Daiwa Securities Group Inc. increased its stake in Simon Property Group by 7.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 4,693,803 shares of the real estate investment trust’s stock valued at $421,269,000 after buying an additional 333,220 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Simon Property Group by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 4,158,223 shares of the real estate investment trust’s stock valued at $394,698,000 after buying an additional 23,156 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $110.16 on Wednesday. The company has a market capitalization of $36.01 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.58 and a beta of 1.51. 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 50-day simple moving average of $116.81 and a 200 day simple moving average of $114.30. 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 earnings results on Monday, February 6th. The real estate investment trust reported $2.06 EPS for the quarter, missing the consensus estimate of $3.14 by ($1.08). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. Simon Property Group had a return on equity of 60.33% and a net margin of 40.43%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.09 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.03 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 10th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Thursday, March 9th. Simon Property Group’s payout ratio is 110.43%.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Mizuho lowered their price target on shares of Simon Property Group from $130.00 to $116.00 in a research note on Monday, March 13th. Piper Sandler lifted their price target on shares of Simon Property Group from $130.00 to $145.00 in a research note on Tuesday, January 17th. StockNews.com began coverage on shares of Simon Property Group in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.42.

Insider Buying and Selling

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

Simon Property Group 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.