Duff & Phelps Investment Management Co. Has $108.89 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Duff & Phelps Investment Management Co. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 160.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 763,371 shares of the real estate investment trust’s stock after acquiring an additional 469,855 shares during the quarter. Simon Property Group accounts for approximately 1.3% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 26th biggest position. Duff & Phelps Investment Management Co.’s holdings in Simon Property Group were worth $108,887,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $368,000. Van ECK Associates Corp lifted its position in Simon Property Group by 14.4% during the fourth quarter. Van ECK Associates Corp now owns 134,346 shares of the real estate investment trust’s stock worth $19,163,000 after purchasing an additional 16,897 shares during the period. Steele Capital Management Inc. bought a new stake in Simon Property Group during the fourth quarter worth about $318,000. Naviter Wealth LLC lifted its position in Simon Property Group by 19.3% during the fourth quarter. Naviter Wealth LLC now owns 25,115 shares of the real estate investment trust’s stock worth $3,582,000 after purchasing an additional 4,064 shares during the period. Finally, Choreo LLC bought a new stake in Simon Property Group during the fourth quarter worth about $216,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.9 %

Shares of Simon Property Group stock traded down $1.33 on Tuesday, reaching $143.50. 300,742 shares of the company’s stock were exchanged, compared to its average volume of 1,459,757. The company has a market capitalization of $46.77 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The firm’s 50-day moving average is $148.94 and its two-hundred day moving average is $137.49. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77.

Simon Property Group (NYSE:SPG) last issued its 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 return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $1.95 per share. 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. This represents a $7.80 annualized dividend and a yield of 5.44%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial increased their target price on shares of 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 raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI increased their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley increased their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

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.