Generali Asset Management SPA SGR Acquires 8,781 Shares of Simon Property Group, Inc. $SPG

Generali Asset Management SPA SGR grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2,240.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,173 shares of the real estate investment trust’s stock after buying an additional 8,781 shares during the period. Generali Asset Management SPA SGR’s holdings in Simon Property Group were worth $1,698,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Simon Property Group by 15.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after purchasing an additional 8,965 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Simon Property Group in the 3rd quarter worth about $3,598,000. National Pension Service boosted its holdings in shares of Simon Property Group by 3.2% in the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after purchasing an additional 33,758 shares in the last quarter. Aew Capital Management L P lifted its holdings in shares of Simon Property Group by 90.9% in the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after acquiring an additional 252,510 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its holdings in shares of Simon Property Group by 1.7% in the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock worth $46,361,000 after acquiring an additional 4,177 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SPG shares. Truist Financial increased their target price on Simon Property Group from $181.00 to $196.00 and gave the company a “hold” rating in a report on Monday, March 2nd. Barclays raised their price objective on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Monday, April 13th. Citigroup raised their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, January 20th. Finally, Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $200.14.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $202.22 on Friday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average price of $195.35 and a 200 day moving average price of $189.16. Simon Property Group, Inc. has a fifty-two week low of $155.44 and a fifty-two week high of $208.28. The firm has a market cap of $65.71 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 6.65 and a beta of 1.33.

Simon Property Group declared that its board has authorized a share buyback plan on Thursday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.